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.
10/16/17 Closing Prices:
Bitcoin: $5,687.02 (-$56.69) Gold: $1,294 (-$9) Dow Jones Industrials: 22,956.96 (+85.24) S&P500: 2,557.64 (+4.47) Nasdaq Composite: 6,624.00 (+18.20)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Monday, 10/16/2017
- BITCOIN......huge run up.........a pullback........rest
- Settling down slightly after last weeks HUGE spike not unexpected
- We expected the softness and retrenchment............now what??
- Long term bitcoin goes much higher. Traders take profits, reduce risk or place sell stops
- Traders (if out) can place buy stops just over $6,000 for next momentum move
- GOLD disappoints (again?) closing down under $1,300
- Test of $1,260-$1,265 OR another rally over $1,300? Hmmmmm!!!
- (From Friday) Place buy stops at $1,305-$1,310 for breakout. Make sure it stays ABOVE $1,300
- LONG TERM BULLISH ON BITCOIN AND GOLD
C
urrent TRADING Positions: NO current TRADING positions
Past Market
