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 – 17 March 2015

Price Action

Where did all the traders go? Today was a very quiet trading session. The price oscillated between $289 and $292 on very low volume. Volatility in general has taken a nose dive with the .BVOL Index (30 day realised volatility) down over 50% since one month prior to 65%.

 

Trade Ideas

Going into the final stretch of March, volatility could pop meaningfully if $300 is breached on heavy volume. Consider buying BVOLH15 which expires on March 27th.

 

In the News

Cryptowatch adds BitMEX to its charting website (Cryptowat.ch)

Coinbase compliance chief resigns (Qntra)

Rakuten starts accepting Bitcoin (WSJ)

Silk Road lieutenant Peter Nash pleads guilty (Naked Security)