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)

Crypto Trader Daily – 18 February 2014

Price Action

Another day of range bound trading. The price touched a high of $247 on Bitfinex, and currently has swung back below $240. Volumes were muted today as it is New Years Eve for China.


Trade Ideas

Sell at $245-$250 and and buy at $235-$240 to play in the established range. Use the daily expiring futures contract (XBU24H) to get in and out of positions.


In the News

Cavirtex hacked and will be shutting operations (CoinDesk)

T-Mobile Poland accepts Bitcoin for top-ups (Bitcoinnet)

OKCoin CTO departs for greener pastures (CoinTelegraph)