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.
9/14/18 Closing Prices:
Bitcoin: $6,443.85 (-$57.59) Ethereum: $204.63 (+$1.17) Gold: $1,194 (-$8) Dow Jones Industrials: 26,154.67 (+8.68) S&P 500: 2,904.98 (+0.80) Nasdaq Composite: 8,010.04 (-3.67)
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 Friday, 9/14/2018
- After a nice rally BITCOIN eased off slightly BUT trading back above $6,500 in late trading
- ETHEREUM added a tiny amount BUT is trading higher ($220) in late trading
- GOLD could not break through $1,210 and sold off back below $1,200. Just trapped in a very tight range
- 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
- BITCOIN downside support at $6,000, upside target $8,500
- Upside target $300 for ETH
- 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