Crypto Trader Daily – 10 April 2015

Price Action

Kerrplunk was the sound Bitcoin made as it careened through $240 to $231 on Bitfinex. It looks as if the rout is over, but you can never be sure in Bitcoin. If $230 can hold over this weekend, a possible local bottom will have formed and a push higher can begin anew.

 

Trade Idea

To play a rebound in prices, buy XBTJ15 with a target of $250 on the futures price.

 

In the News

GAW Miners Sued for Breach of Contract (CoinDesk)

PayPal Now Allows Its Merchants to Accept Bitcoin Payments (Coinspeaker)

Crypto Trader Daily – 6 March 2015

Price Action

A violent short squeeze was successfully executed early morning China time today. The price shot from under $270 to $285 on Bitfinex. The fade was strong, and the price has tip toed back down to $270-$275. The bullish momentum could not hold the rally, expect the price to test $260 in the coming days.

 

Trade Idea

Establish short positions above $270, with a $260 price target. Trade the quarterly futures contract XBUH15.

 

In the News

Third US Marshals auction attracts more bidders (CoinDesk)

GAW Miners under US regulatory scrutiny (Coinfire)

Crypto Trader Daily – 3 March 2014

Price Action

Traders were in a bullish mood today after the announcement of the first publicly tradable Bitcoin investment vehicle in the US. The price climbed all the way to $281 on Bitfinex. The price subsequently corrected $10 and now stands around $270. The $300 level looms near. A slow an methodical climb through $300 could unleash an explosion of FOMO buying once breached.

Trade Ideas

Continue to buy the dips. Resist the urge to increase one’s long exposure at physiological barriers. An example would be $280, $290 … For maximum gain on the upside, consider trading XBTH15 and take advantage of the positive USD gamma.

In the News

Havelock Investments to reopen tomorrow (Reddit)

GAW Miners: Proof of Fraud (Coinbrief)