Crypto Trader Daily – 23 April 2015

Price Action

The price hovered around $235 for the majority of the trading day. Traders are waiting on the side lines until either $230 or $240 is retested. Although the overall trend is bearish, a rally to $240-$250 cannot be ruled out. Given the rapid decline from $300 to $216, there is room for a sustained dead cat bounce before $200 is retested.

 

Trade Idea

If you have some bullish bones left in you, accumulate a long position in XBUK15 positioning for a breakout above $240.

 

In the News

Margin Call: How It Works (BitMEX Blog)

MIT to Take Over Funding of Three Bitcoin Core Developers (CoinTelegraph)

Brock Pierce Elected Bitcoin Foundation Board Chairman (CoinDesk)