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.
9/21/18 Closing Prices:
Bitcoin: $6,725.11 (+$308.25) Ethereum: $229.26 (+$18.13) Gold: $1,198 (-$10) Dow Jones Industrials: 26,743.50 (+86.52) S&P 500: 2,929.67 (-1.08) Nasdaq Composite: 7,986.96 (-41.28)
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, 9/21/2018
- BITCOIN jumps higher as buyers return. Realization that cryptos bottomed last week is sinking in
- BITCOIN downside support at $6,000, upside target $8,500
- ETH followed BITCOIN and picked up $20.......trading just short of $250 in late trading
- Joining a broad crypto rally, upside target for ETH is $300
- Looks like the BITCOIN, ETH and crypto strength has some legs. Momentum is up
- GOLD sinks hard back down under $1,200 on news of Brexit talks on trade breaking down
- Talks will resume and it all will be worked out. Great buying opportunity for GOLD
- $1,190-$1,195 held support
- GOLD, a solid close above $1,210 should bring in buyers; target $1,250
- 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