Crypto Trader Daily – 25 March 2015

Price Action

Intraday price volatility spiked as the the price crashed to $235 on Bitfinex. Minutes later a violent short squeeze sent the price back to $250. The downtrend is still in effect, but the violent squeezes are a warning for shorts not to get too greedy. Expect a retest of the $235 lows and ultimately $230.


Trade Idea

Sell XBUH15 above $245 with a downside target price of $235. Cover the position if the price trades above $255.


In the News

Hong Kong to leave Bitcoin unregulated (CoinTelegraph)

Neteller adds Bitcoin deposit option (CoinDesk)