Crypto Trader Daily – 22 April 2015

Price Action

Wednesday seems to be the day of the week that things start moving. The price shot up through $230 to a high of $237. $240 looks likely to be retested. A failure to retake $240 could lead to a swift return to $230 and possibly below.

 

Trade Idea

Sell XBUK15 as the price retests $240, with a target price of $230.

 

In the News

“Not-So-Decentralized” Ripple Freezes $1m in User Funds (Inside Bitcoins)

Rand Paul Chides ‘Naysayers’ Who Want to Regulate Bitcoin (American Banker)

Mt. Gox Customers Can Now File Claims For Their Lost Bitcoins (TechCrunch)

Crypto Trader Daily – 3 April 2015

Price Action

Yet again the major price spike happened while China was asleep. The price shot up through $250, then through $255. The $240-$260 range is proving tough to penetrate. Which ever way this breaks, it will be violent.

 

Trade Idea

$250 to $255 is a no-go zone. Using XBUJ15, above $255 go long looking for a definitive break above $260 and a sharp rise thereafter. Go short below $250 looking for a re-test of $240, and a break below could point to a serious correction down to $230.

 

In the News

Silk Road Sealed Document Dump Day (Qntra)

$1 Million Legal Fight Ensnares Ripple, Bitstamp and Jed McCaleb (CoinDesk)