The Taylor Report-Bitcoin vs Gold vs Ethereum (7/11/19)

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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.

7/11/19 Closing Prices:

Bitcoin:  $11,728.74 (-$1,127.57)
Ether:  $271.58 (-$30.56)
Gold:  $1,407 (-$3.00)
DJIA:  27,088.08 (+227.88)
S&P 500:  2,999.91 (+6.84)
Nasdaq Comp:  8,196.04 (-6.49)

Trading Summary Notes for Thursday, 7/11/2019

  • TAYLOR REPORT WILL BE OFF NEXT WEEK WHILE REVAMPING FINTEKNEWS AND A VACATION
  • BITCOIN’S strong rally hit the “wall” at $13,000. Sellers dropped BTC over $1,000 in short order and more weakness set in
  • So far nothing more than profit taking. BITCOIN needs to “re-group” before another rush higher. That may lead to a very slow August
  • Expect a test back to $10,000- $10,500 for BTC
  • ETH always drops faster than it goes up. Struggles to climb and gives gains back super fast.
  • Back to $250 as BITCOIN backs off?
  • GOLD having some real volatility around $1,400. Huge selloffs and huge rallies
  • Looks like a trading range above and below that $1,400 level of, say, $1,385-$1,425
  • GOLD reacting to interest rate speculation and srong dollar/weak dollar perceptions. Still looking for $1,650-$1,700

Current trading positions: LONG BITCOIN & GOLD




Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews



The Taylor Report-Bitcoin vs Gold vs Ethereum (7/11/19)