FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.
5/2/18 Closing Prices:
Bitcoin: $9,084.82 (+$179.41) Gold: $1,305 (-$0-) Dow Jones Industrials: 23,924.98 (-174.07) S&P 500: 2,635.67 (-19.13) Nasdaq Composite: 7,100.90 (-29.81)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Wednesday, 5/2/2018
- Next big numbers for BITCOIN.......$9,400-$9,500
- Pushing above $9,500 will set the next target at $12,000-$12,500
- Consolidating around $9,000 looks very favorable
- GOLD tried to rally, failed and now back testing $1,300
- May have a "tug-o-war" between bulls and bears around $1,300
- Higher interest rates pulling gold down, inflation fears pulling gold up
- Inflation fears will heat up as wage gains begin become more prevalent
- Have moved "neutral" on gold. Long term very bullish
CURRENT TRADING POSITION: Long BITCOIN & GOLD
