Crypto Trader Daily – 31 March 2015

Price Action

The biggest news today was the revelation of how crocked US government officials were stealing from and intimidating Bitcoiners and exchanges. This didn’t have any effect on the price. It was a quiet trading day until China late afternoon when the price attempted a push towards $240. It was a weak attempt, and now the price is hovering around $245.


Trade Idea

The downtrend does not appear to be over. Short XBUJ15 above $245 with a $235 target price over the next few trading days.


In the News

Undercover agents working on Silk Road case charged with theft and money laundering (NYT)

Dept of Homeland Security orders Reddit to reveal users linked to ‘Evolution’ scam (CoinTelegraph)

Australian Treasury: Bitcoin a threat to tax collection (CoinDesk)