By Bill Taylor, Contributor/Fintek Capital
We compare the price of Bitcoin, Ethereum, & Gold, using the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference.
10/21/18 Closing Prices:
Bitcoin: $6,446.32 (+$42.68)
Ether: $204.31 (+$1.67)
Gold: $1,226 ($-0-)
DJIA: 25,444.34 (+64.89) (Friday's close)
S&P 500: 2,767.78 (-1.00) (Friday's close)
Nasdaq Comp: 7,449.03 (-36.11) (Friday's close)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index CME ETH_RR_USD Ethereum Reference Rate & CME ETH_RTI_USD Ethereum Real Time IndexT
rading Summary Notes for Sunday, 10/21/2018
- NOTE: I am in London this week so there will be no Taylor Report the rest of the week.
- BITCOIN rallies back up over the weekend to, basically, where it was last week. Stuck in a very tight range
- ETH creeps a bit higher to last weeks low levels of just above $200
- Both BTC and ETH suffering from lack of interest in very slow trading. BUT, both holding support levels
- Very positive risk/reward for buying BTC and ETH
- GOLD looks to have broken out of long time $1,200 +/- area
- GOLD upside target $1,350. Expect some “backing and filling” but buy the dips
- BITCOIN downside support at $6,000, upside target $8,500
- ETH downside at $185-$190, upside target $300
- Long term bullish on BITCOIN and GOLD. Short neutral bullish on ETH
CURRENT TRADING POSITION:
LONG BITCOIN, ETH and GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor