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 – 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)

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)