Gold Breaking Out; Bitcoin Holding

Bitcoin vs Gold (4/4/17 Closing Analysis)

Bitcoin vs Gold

FintekNews is comparing the price of Bitcoin vs Gold on a daily basis, utilizing the Chicago Mercantile Exchange’s (CME)two new bitcoin indexes (BRR & BRTI).

Read our prior daily commentaries on Bitcoin vs Gold here

Trading Summary Notes for Tuesday, 4/5/17

  • Gold had solid close above $1255 (Seems to have broken out above resistance)
  • Long gold @$1257
  • Gold upside target $1300-$1325 (Set ‘sell stop’ @$1230)
  • Bitcoin treading water in mid-$1100 area
  • Bitcoin resistance @$1200-$1250
  • Overhanging ‘issues’ with bitcoin “hard fork” warrants no position
  • Still a strong bitcoin bull if ‘issues’ resolved. (Need futures/options)

See additional bitcoin articles at FintekNews website.

Bitcoin vs. Gold Daily Pricing Chart

See other content on bitcoin & digital currencies here

* Prices are from CME’s BRR index as of 4:15 EST; gold as of 4:15 EST near term future
**  Inception began Aug. 17, 2016 (see FintekNews article)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. The chart above compares the pricing on that date to the two most recent trading days, as reference.  We at FintekNews have written (and are on record) of saying that bitcoin will outperform gold in the future.

Please see following FintekNews articles for reference on pricing in graph:

BITCOIN-GOLD UPDATE (Published 10/26/16)