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.
9/27/18 Closing Prices:
Bitcoin: 6,499.80 (+$8.02) Ethereum: $218.07 (+$3.30) Gold: $1,198 (-$10.00) Dow Jones Industrials: 26,439.93 (+54.65) S&P 500: 2,914.00 (+8.03) Nasdaq Composite: 8,041.97 (+51.60)
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 Thursday, 9/27/2018
- Going nowhere! BITCOIN and ETH only add a few dollars
- I AM QUOTING MYSELF FROM YESTERDAY; "Why? WTF? Once again, I honestly have no idea. Cryptos (specifically BTC & ETH) are suffering from general lack of interest. Negative news (hacks, manipulation, etc.) brings in some sellers, dip buyers then step in. That’s it…"
- BITCOIN downside support at $6,000, upside target $8,500
- ETH downside at $200, upside target $300
- The dollar rallied sharply and GOLD dropped sharply
- Expectations of more interest hikes makes the dollar stronger.........and GOLD weaker
- Breaking support at $1,190 puts GOLD in a more negative position. Next support should be $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