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.
10/8/18 Closing Prices:
Bitcoin: $6,612.76 (+$88.37) Ethereum: $227.39 (+$5.82) Gold: $1,188 (-$16.00) Dow Jones Industrials: 26,486.78 (+39.73) S&P 500: 2,884.43 (-1.14) Nasdaq Composite: 7,735.95 (-52.50)
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 Monday, 10/8/2018
- Slow quasi-holiday trading day in U.S. (Columbus Day) but BITCOIN moves back over $6,600; ETH adds a few dollars to over $225
- A few more steady up days for BITCOIN and the upside momentum should pick up. Same for ETH
- To many slow "blah" days. Time to get busier? Gearing up for a big 4th quarter end of year rally?
- BITCOIN downside support at $6,000, upside target $8,500
- ETH downside at $200, upside target $300
- GOLD dumps $16.00
- Support at $1,175-$1,180
- Long term bullish on BITCOIN and GOLD. Short term bullish on ETH
CURRENT TRADING POSITION:
LONG BITCOIN, ETH and GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor