Crypto Trader Daily – 6 March 2015

Price Action

A violent short squeeze was successfully executed early morning China time today. The price shot from under $270 to $285 on Bitfinex. The fade was strong, and the price has tip toed back down to $270-$275. The bullish momentum could not hold the rally, expect the price to test $260 in the coming days.


Trade Idea

Establish short positions above $270, with a $260 price target. Trade the quarterly futures contract XBUH15.


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