Price Action
Early morning in China the rally popped to a new local high of $294 on Bitfinex. The fade has come on strong and the price is down below $280. The rally feels to be on its last legs, a violent plunge to $260 could be in the cards.
Trade Ideas
Take profits if you were long until now. Begin to fade this rally with a price target below $270. Use the daily futures contract, XBU24H to express this view.
In the News
California unveils it’s own BitLicense (CoinDesk)
QuadrigaCX to become world’s first publicly traded Bitcoin exchange (Bitcoin Magazine)
ApplePay fraud skyrockets (WSJ)