Crypto Trader Daily – 2 March 2015

Price Action

Mind the rally. The announcement that SecondMarket’s Bitcoin Investment Trust has been approved by FINRA to trade on the Pink Sheets launched the price $20 from $247 to $267. The fade has set in, and consolidation has begun around the $260 level. Expect a new trading range to form around $255-$260.

Trade Ideas

If you missed the move, don’t FOMO buy. The fade will take the price below $260 and at that point begin accumulating a long position. Use XBTH15 to play a medium term run up in price.

In the News

SecondMarket’s Bitcoin Investment Trust to list on US Pink Sheets (WSJ)

Austria might bail-in creditors in Hypo Alpe Adria bad bank (Zerohedge)

Bter plans a comeback with completely rebuilt exchange (Twitter)