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.
3/20/18 Closing Prices:
Bitcoin: $8,539.32 (-$22.92)
Gold: $1,310 (-$7)
Dow Jones Industrials: 24,727.27 (+116.36)
S&P 500: 2,716.94 (+4.02)
Nasdaq Composite: 7,364.30 (+20.06)
Trading Summary Notes for Tuesday, 3/20/2018
- BITCOIN steadies after recovering from weekend plunge in quiet trading
- Both buyers and sellers take a break
- Positive comments out of the G20 meeting providing support. New move higher coming?
- If bitcoin trades, and holds, above $9,000 expect more upside………$12K?
- GOLD weakens in advance of US Fed FOMC meeting which wraps up tomorrow
- Gold holding the $1,305-$1,310 support area. Waiting for the Fed’s FOMC meeting to wrap up Wednesday with interest rate guidance
- Inflation still being under estimated which is bullish for gold
- Top 2018 “HOT” picks……… long both BITCOIN & GOLD
CURRENT TRADING POSITION: Long GOLD