Price Action
The $230 seal has been broken. The price dipped below $230 for a few moments on Bitfinex during the China evening session. $230 has not be definitively broken. While China is revelling, traders will make another stab at $230. This recent rally lacked sufficient vigour as $240 was not punctured on the upside move. If $230 falls, a retest of $216 will happen in short order.
Trade Idea
Position for a possible break below $230 by accumulating a short position in the $230-$235 range using XBUK15.
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