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.
5/1/18 Closing Prices:
Bitcoin: $8, 905.41 (-$359.66) Gold: $1,305 (-$12) Dow Jones Industrials: 24,099.05 (-64.10) S&P 500: 2,654.80 (+6.75) Nasdaq Composite: 7,130.70 (+64.44)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Tuesday, 5/1/2018
- BITCOIN experiencing trouble getting through $9,400-$9,500
- Failing again at mid $9K area, selling kicked in and knocked bitcoin under $9K
- Trading range getting tighter. Momentum stalls
- Pushing above $9,500 will set the next target at $12,000-$12,500
- GOLD breaking down on interest rate fears, firmer dollar
- Breaking below our support at $1,315-$1,320 and now testing $1,300. Danger?
- Geopolitical fears (Mideast) and lurking inflation will ‘trump’ interest rates and dollar strength………at some point
- Moving to "neutral" on gold
CURRENT TRADING POSITION: Long BITCOIN & GOLD