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.
9/13/18 Closing Prices:
Bitcoin: $6,501.44 (+$230.69) Ethereum: $203.46 (+$30.54) Gold: $1,202 (-$4) Dow Jones Industrials: 26,145.99 (+147.07) S&P 500: 2,904.18 (+15.26) Nasdaq Composite: 8,013.71 (+59.48)
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, 9/13/2018
- Looks like Michael Novogratz read yesterday's "Taylor Report" calling the bottom on cryptocurrencies. Nice company we keep
- BITCOIN rallies above $6,500. Trading a little lower in late hours
- BITCOIN downside support at $6,000, upside target $8,500
- ETHER jumps up over $200. Was $170 + - the bottom? I say yes
- Upside target $300 for ETH
- GOLD follows yesterday's big jump up by testing $1,210, can't penetrate and turns lower on the day
- A solid close above $1,210 should bring in buyers; target $1,250. So far, $1,190-$1,195 is holding. After that $1,175-$1,180 is support
- Have been VERY bullish on GOLD and looks good
- 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