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.
9/25/18 Closing Prices:
Bitcoin: 6,415.16 (-$191.72) Ethereum: $209.62 (-$24.56) Gold: $1,201 (+$2.00) Dow Jones Industrials: 26,492.21 (-69.84) S&P 500: 2,915.56 (-3.81) Nasdaq Composite: 8,007.47 (+14.22)
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 Tuesday, 9/25/2018
- Up down, up down! The Yo Yo movements continue in the cryptos
- BITCOIN sinks $200, ETH drops a big $25
- Why? Honestly, I have no idea. Cryptos (specifically BTC & ETH) are suffering from general lack of interest. Negative news (hacks, etc.) brings in some sellers, dip buyers then step in. That's it...
- ETH downside at $200, upside target $300
- BITCOIN downside support at $6,000, upside target $8,500
- GOLD has fallen in love with $1,200........plus or minus a few dollars. Trading off dollar and watching interest rates (Fed announces tomorrow another rate increase)
- Inflation is picking up and tougher trade talk helping GOLD
- Great buying opportunity for GOLD. $1,190-$1,195 held support, upside target $1,245-$1,250. GOLD needs a solid close above $1,210
- 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