The Taylor Report-Bitcoin vs Gold vs Ethereum (2/18/19)

BITCOIN And ETH Suddenly Wake Up. GOLD Keeps Moving Up

Bill Taylor


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.

2/18/19 Closing Prices:

Bitcoin:  $3,796.42 (+$223.98)
Ether:  $142.62(+$17.97)
Gold:  $1,326 (+$8.00)
DJIA:  (closed for President’s Day)
S&P 500:  (closed for President’s Day)
Nasdaq Comp:  (closed for President’s Day)

Trading Summary Notes for Monday, 2/18/2019

  • Right on schedule (well, kind of) BITCOIN and ETH decided to not just wake up, but JUMP out of the doldrums bed
  • After weeks (seems like years) of both cryptos languishing in the doldrums, the realization that the selling had done itself out
  • So, let’s revisit some points of last week’s report;

From last Thursday’s (14th) Taylor Report;

  • ESTABLISHED NEW TRADING POSITION: BOUGHT ETH @ $120.65
  • BITCOIN and ETH seem to be “sold out” and waiting for a reason to begin a new move to the upside
  • Probably NOT the time to be short cryptos. Upside spikes can be very hazardous to your trading account
  • When a new move begins it will be explosive and very hard to chase. Nobody likes to chase
  • So, lets just say, $3,400 +/- for BTC and $105 +/_ for ETH is VERY attractive long term entry point

So, with BITCOIN and ETH seemingly breaking out, where might these crypto “friends” be headed? GOLD?

  • Let’s say BITCOIN needs to get through $4,500 (looks good) then its on to $6,500
  • With ETH following BTC, lets expect ETH to travel up to $190-$195
  • And GOLD? Once again, buying the dips in GOLD is the strategy of 2019. Near term target is $1,400
  • Surprise; LONG TERM BULLISH ON BITCOIN, ETH AND GOLD  

Current trading positions; LONG BITCOIN, ETH AND GOLD



Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor