FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.
3/26/18 Closing Prices:
Bitcoin: $8,071.45 (-$550.35) (from Friday’s close)
Gold: $1,352 (+$5) (from Friday’s close)
Dow Jones Industrials: 24,202.60 (+669.40)
S&P 500: 2,658.55 (+70.29)
Nasdaq Composite: 7,220.54 (+227.88)
Trading Summary Notes for Monday, 3/26/2018
- BITCOIN sinks under $8,000 as Twitter bans crypto ads, tax selling
- Bitcoin sort of stuck in tight range $7,500-$9,000
- Bitcoin needs to trade, and hold, above $9,000. If it does, expect more upside………$12K?
- GOLD works above resistance at $1,345-$1,350 on weak dollar
- Tariff and trade ‘chatter’ taking center stage BUT inflation still being under estimated which is bullish for gold
- Looking for move to $1,390-$1,400. Don’t be short gold
- Top 2018 “HOT” picks……… long both BITCOIN & GOLD
CURRENT TRADING POSITION: Long GOLD