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.
5/4/18 Closing Prices:
Bitcoin: $9,655.10 (+$236.60) Gold: $1,314 (+$3) Dow Jones Industrials: 24,262.51 (+332.36) S&P 500: 2,663.42 (+33.69) Nasdaq Composite: 7,209.62 (+121.47)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Friday, 5/4/2018
- BITCOIN moves higher, has strong week
- Solid close above $9,500 was very bullish. Next target $12,000-$12,500
- Goldman Sachs opening a bitcoin trading desk adds to momentum
- GOLD attempting to build a base above $1,300
- A “tug-o-war” between bulls and bears around $1,300 has begun
- Inflation fears will heat up as wage gains begin become more prevalent
- A close above $1,320 would bring in buyers for a move back to $1,350-$1,355
CURRENT TRADING POSITION: Long BITCOIN & GOLD