Crypto Trader Daily – 9 April 2015

Price Action

Down down down was the direction today. The low of $236 on Bitfinex was hit late afternoon China time. The price promptly rebounded back above $240. The gyrations have stalled and traders are gearing up for another whippy China night and early morning trading session. Keep a close eye on USD and XBT swaps outstanding on Bitfinex. The margin longs are a bit over extended and a violent gap downwards could occur after a well timed bear raid.


Trade Idea

Sell XBU24H above $240 anticipating a retest of $235 level on Bitfinex.


In the News

Coinbase Mail Server Hacked (Reddit)

Coinsetter Acquires Cavirtex (Coinsetter)