Crypto Trader Daily – 10 March 2015

Price Action

$300 was breached in a punchy day of trading. The price has faded back to the low $290s, and looks poised to make another run to the upside. Expect a FOMO rally to $320-$330, then a sharp correction downwards. Don’t let emotions get the better of you, this is a rally on no news and is driven by leveraged speculators not cash buyers.

 

Trade Idea

Increase outright long positions below $300. The near term target price is $320-$330, then take your portfolio flat. Use XBTH15.

 

In the News

21 Inc announces $116 million funding round (DC Magnets)

Erik Voorhees behind ShapeShift (Coindesk)

American Century Life to accept Bitcoin as payment (Insurance News Net)

 

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)

Crypto Trader Daily – 27 February 2014

Price Action

Welcome back volatility. The Asian lunch hour(s) featured a short squeeze on Bitfinex that started a rally to $262. The price is now fluctuating in a $250-$255 range. Now that the market has awoken from its slumber, expect some fire works this weekend as Chinese traders make up on lost time.

Trade Ideas

A solid break above $260 and the recent $270 high will be tested. Given the amount of time the price spent flat-lining from $235-$240 this rally could continue to $280. Purchase XBTH15 below $260 to express this view.

In the News

DigitalBTC reports loss in ASX filings (CoinDesk)

Gavin Andresen improves Bitcoin’s block validation performance (CoinTelegraph)

Greek bank run intensifies, Piraeus Bank ATMs run dry (Zerohedge)