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.

5/1/18 Closing Prices:

Bitcoin: $8, 905.41 (-$359.66) Gold: $1,305 (-$12) Dow Jones Industrials: 24,099.05 (-64.10) S&P 500: 2,654.80 (+6.75) Nasdaq Composite: 7,130.70 (+64.44)

Trading Summary Notes for Tuesday, 5/1/2018

• BITCOIN experiencing trouble getting through $9,400-$9,500
• Failing again at mid $9K area, selling kicked in and knocked bitcoin under $9K
• Trading range getting tighter. Momentum stalls
• Pushing above $9,500 will set the next target at $12,000-$12,500
• GOLD breaking down on interest rate fears, firmer dollar
• Breaking below our support at $1,315-$1,320 and now testing $1,300. Danger?
• Geopolitical fears (Mideast) and lurking inflation will ‘trump’ interest rates and dollar strength………at some point
• Moving to "neutral" on gold

CURRENT TRADING POSITION: Long BITCOIN & GOLD

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time