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)

Crypto Trader Daily – 31 March 2015

Price Action

The biggest news today was the revelation of how crocked US government officials were stealing from and intimidating Bitcoiners and exchanges. This didn’t have any effect on the price. It was a quiet trading day until China late afternoon when the price attempted a push towards $240. It was a weak attempt, and now the price is hovering around $245.

 

Trade Idea

The downtrend does not appear to be over. Short XBUJ15 above $245 with a $235 target price over the next few trading days.

 

In the News

Undercover agents working on Silk Road case charged with theft and money laundering (NYT)

Dept of Homeland Security orders Reddit to reveal users linked to ‘Evolution’ scam (CoinTelegraph)

Australian Treasury: Bitcoin a threat to tax collection (CoinDesk)

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)

Crypto Trader Daily – 8 March 2015

Price Action

$280 was breached early morning China time, but quickly succumbed to selling pressure. The $270-$280 range still held during the trading day. A breach of above or below this range should incite violent trading.

 

Trade Idea

Ride the momentum above $280 or below $270. Use the daily futures contract XBU24H.

 

In the News

Ross Ulbricht demands new trial (Arstechnica)

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)