Crypto Trader Daily – 23 April 2015

Price Action

The price hovered around $235 for the majority of the trading day. Traders are waiting on the side lines until either $230 or $240 is retested. Although the overall trend is bearish, a rally to $240-$250 cannot be ruled out. Given the rapid decline from $300 to $216, there is room for a sustained dead cat bounce before $200 is retested.

 

Trade Idea

If you have some bullish bones left in you, accumulate a long position in XBUK15 positioning for a breakout above $240.

 

In the News

Margin Call: How It Works (BitMEX Blog)

MIT to Take Over Funding of Three Bitcoin Core Developers (CoinTelegraph)

Brock Pierce Elected Bitcoin Foundation Board Chairman (CoinDesk)

Crypto Trader Digest – 14 April 2013

Price Action

The slaughter began early morning in China as the price dropped $10 to $225. Then the price continued downwards and tested $220 and rebound back towards $230. $220 was broken in the afternoon trading session, and continued down to $218. The price is now hovering around $220 and looks likely to head lower. The next stop is $210, but a short squeeze looks likely before then.

 

Trade Idea

Position your portfolio for a violent short squeeze upwards. Use XBTJ15 for this play.

 

In the News

New Bitcoin Foundation Director Bruce Fenton Pledges Fiscal Reform (CoinDesk)

‘Bitcoin Baron’ Hacker Arrested By Police in Arizona (CoinTelegraph)

Crypto Trader Daily – 7 April 2015

Price Action

Volatility crept back into the market today. The price oscillated between $260 and $253. Whether the price goes down or up from here is hard to tell, but with many traders returning from holiday things should heat up later this week.

 

Trade Idea

XBTJ15 is trading at a $7-$8 premium over Bitfinex spot. Sell XBTJ15 and buy spot to capture this premium.

 

In the News

Bitcoin Foundation Financials and Reorganisation Plan Leaked (Bitcoin Magazine)

Crypto Trader Daily – 4 April 2015

Price Action

The range today was $250-$255. The price bounced a few times off the $250 support. It appears that this rally lacks additional horsepower, and will succumb to the fade and retest $240 in short order.

 

Trade Idea

Short XBUJ15 around $255 and increase the short if $250 is breached. The downside target price is $235.

 

In the News

Bitcoin Alternative LEOCoin Linked to Suspected Pyramid Scheme (CoinDesk)

The Truth About The Bitcoin Foundation (Reddit)

Crypto Trader Daily – 17 February 2014

Price Action

Extend and pretend is the name of the game from Europe. Another critical meeting, and another episode of can kicking. No new news on Greece, and another day of $230-$240 range bound trading for Bitcoin. The Chinese New Year lull has officially set in.

 

Trade Ideas

Selling realised volatility for February during these times is prudent. Trade the BVOLG15 (27 February 2015) realised volatility futures contract. After an eventful end of January and start to February the contract has been bid up. If trading continues this way until the end of next week, realised volatility should decline.

 

In the News

Netagio shutters Bitcoin exchange (ConDesk)

2,180 Bitcoin foundation members barred from voting (CoinTelegraph)

VICE interviews Winklevoss twins (VICE)