Crypto Trader Daily – 12 March 2013

Price Action

The fade has begun. $300 couldn’t be topped today, and the price is drifting towards $290. It seems the rally has lost steam, and consolidation will occur below $290.

 

Trade Idea

Take a short position above $290 with a target price between $280-$285. Use XBUH15.

 

In the News

Cumberland Mining believed to be a winner in latest US Marshals auction (Qntra)

Bitcoin Investment Trust audited financial reports (OTC Markets)

Bter to return hacked funds (Coindesk)

Crypto Trader Daily – 2 March 2015

Price Action

Mind the rally. The announcement that SecondMarket’s Bitcoin Investment Trust has been approved by FINRA to trade on the Pink Sheets launched the price $20 from $247 to $267. The fade has set in, and consolidation has begun around the $260 level. Expect a new trading range to form around $255-$260.

Trade Ideas

If you missed the move, don’t FOMO buy. The fade will take the price below $260 and at that point begin accumulating a long position. Use XBTH15 to play a medium term run up in price.

In the News

SecondMarket’s Bitcoin Investment Trust to list on US Pink Sheets (WSJ)

Austria might bail-in creditors in Hypo Alpe Adria bad bank (Zerohedge)

Bter plans a comeback with completely rebuilt exchange (Twitter)

Crypto Trader Daily – 16 February 2015

Price Action

Back to square one. Early morning Asia time, the final slam down brought Bitcoin below $230. Some traders expect further downside below $220. The recent spate of exchange hackings did not improve sentiment either. Bter, HitBTC, and Excoin were all “hacked” in the span of 24 hours. The Eurogroup has a press conference planned at 7pm GMT where hopefully more light will be shed on the Grexit situation. Financial market globally are waiting with baited breath for further developments, Bitcoin is no different.

 

Trade Ideas

In light of the global macro confusion and fear surrounding Greece, it is prudent to flatten out ones book. The price could easily drop below $220 or regain the mid $240s in the next 12 hours.

 

In the News

Bter hacked of 7,000 Bitcoin (CoinDesk)

Two more exchanges are compromised (Reddit)

Iran and Bitcoin (Coin Telegraph)

Crypto Trader Daily – 15 February 2015

Price Action

Early morning Asia time, the price began its ascent first past $260, and then in the evening $270 was almost taken out on Bitfinex. Shortly afterwards a sharp correction brought the price down to the low $250s. Since the 11th, Bitcoin has risen 18%. The rally has been on relatively low volumes as it is a bank holiday weekend in the US, and China begins the year of the Ram this week. A healthy correction to the mid $240s is in order.

 

Trade Ideas

Continue to fade this rally down to the low $240s. Begin accumulating a long position as the price consolidates. For a medium term trade horizon, use XBTG15 (27 February 2015) to amass a long position.

 

In the News

Bter offline due to “security check” (Reddit)

Full Flush Poker now allows Bitcoin deposits (Professional RakeBack)