Price Action
The whipsaw was in effect early morning in China as the price tested $250 then squeezed higher almost reaching $270 on Bitfinex. After the morning’s theatrics the price settled in a $260-$265 range. The market has proclaimed $250 and $270 as the levels to look for. Better to sit, wait, and watch until the market gives a clear signal as to the new up or down trend.
Trade Idea
If the price breaks below $260, sell XBU24H and look to cover below $255 to play the new trading range.
In the News
Free trading for BitMEX integrations (BitMEX)
National Bank of Romania clarifies its stance on Bitcoin (Qntra)
Changetip integrates with game streaming service Twitch.tv (CoinDesk)
Ukraine shuts down separatists’ Bitcoin accounts (CoinTelegraph)