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.
10/3/18 Closing Prices:
Bitcoin: $6,465.84 (-$66.09) Ethereum: $219.50 (-$6.92) Gold: $1,198 (-$5.00) Dow Jones Industrials: 26.828.39 (+54.45) S&P 500: 2,925.51 (+2.08) Nasdaq Composite: 8,025.08 (+25.54)
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 Wednesday, 10/3/2018
- A slightly down day. BTC and ETH drift lower while GOLD drops back below $1,200
- Dull trading and nothing has changed
- Looks like a very quiet and very solid floor is being put in place in the cryptos
- Gearing up for a big 4th quarter end of year rally? YES!
- BITCOIN downside support at $6,000, upside target $8,500
- ETH downside at $200, upside target $300
- GOLD fails to hold above $1,200.......again. Just back and forth trading
- GOLD under $1,200 is a super long term risk/reward play. Support at $1,175-$1,180 with an upside target of $1,350
- GOLD closing above $1,210 would be very positive. That is previous resistance
- 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