Crypto Trader Daily – 9 April 2015

Price Action

Down down down was the direction today. The low of $236 on Bitfinex was hit late afternoon China time. The price promptly rebounded back above $240. The gyrations have stalled and traders are gearing up for another whippy China night and early morning trading session. Keep a close eye on USD and XBT swaps outstanding on Bitfinex. The margin longs are a bit over extended and a violent gap downwards could occur after a well timed bear raid.

 

Trade Idea

Sell XBU24H above $240 anticipating a retest of $235 level on Bitfinex.

 

In the News

Coinbase Mail Server Hacked (Reddit)

Coinsetter Acquires Cavirtex (Coinsetter)

Crypto Trader Daily – 5 April 2015

Price Action

Happy Easter for those who celebrate the holiday. Trading was subdued until someone(s) decided to ramp the market attempting to test $260 and 1,600 CNY. The level was not broken, but level might be retested during the early morning China trading session.

 

Trade Ideas

If $260 is broken, buy into the momentum and ride the wave up to $265-$270. For this short-term trade, use XBU24H.

Crypto Trader Daily – 30 March 2015

Price Action

During the China morning trading session Bitcoin fell to $236. A sharp rebound then took the price $10 higher to $247. The price slowly faded throughout the rest of the trading day, and it looks as if $240 will be breached again during the early morning hours tomorrow.

 

Trade Idea

Short XBU24H above $245 with a $235 target price.

 

In the News

Interest in Bitcoin grows on Wall Street (WSJ)

Charlie Shrem is off to prison (Twitter)

 

Crypto Trader Daily – 29 March 2015

Price Action

All was quiet until the price took a dive below $240. A quick retrace was formed, but the price slide continues. Expect another possible selloff during the early morning Chinese trading session.

 

Trade Ideas

Use XBU24H to establish short positions above $245. Look for a retest of $235 overnight.

 

In the News

Sheep marketplace arrest (Qntra)

Australian government hints at possible tax on bank deposits (ABC)

Crypto Trader Daily – 24 March 2015

Price Action

The price momentum slowly broke down into a full blown sell off today. The price fell from $265 to a low of $241 on Bitfinex. A healthy rebound is currently taking place. $240 looks as if it might fall during early morning China trading tomorrow. After $240, $230 should prove a hard fought level.

 

Trade Idea

Sell XBU24H above $245 to position for a possible retest of $240. Cover the short position if the price rises above $250.

 

In the News

Nasdaq to provide technology for Bitcoin exchange (WSJ)

Four New Jersey schools affected by ransomware (Qntra)

Crypto Trader Daily – 21 March 2015

Price Action

Another quiet range bound day of trading. Bitcoin fluctuated between $255 and $265. The market experienced a jolt of activity when BTC-e temporarily halted withdrawals in an attempt to thwart the laundering of suspected stolen Bitcoin from Evolution.

 

Trade Idea

Use XBU24H trade in the $255-$265 range during low volume periods.

 

In the News

BTC-e temporarily halts withdrawals (Reddit)

Crypto Trader Daily – 20 March 2015

Price Action

The whipsaw was in effect early morning in China as the price tested $250 then squeezed higher almost reaching $270 on Bitfinex. After the morning’s theatrics the price settled in a $260-$265 range. The market has proclaimed $250 and $270 as the levels to look for. Better to sit, wait, and watch until the market gives a clear signal as to the new up or down trend.

 

Trade Idea

If the price breaks below $260, sell XBU24H and look to cover below $255 to play the new trading range.

 

In the News

Free trading for BitMEX integrations (BitMEX)

National Bank of Romania clarifies its stance on Bitcoin (Qntra)

Changetip integrates with game streaming service Twitch.tv (CoinDesk)

Ukraine shuts down separatists’ Bitcoin accounts (CoinTelegraph)

Crypto Trader Daily – 18 March 2015

Price Action

Volatility reared it’s head and Bitcoin tumbled to a low of $269 on Bitfinex. $300 seems but a distant memory. The BIT euphoria has faded, and additional fuel is needed to restart the rally. $270-$280 range bound trading looks likely.

 

Trade Idea

Use XBU24H to play the daily range. Expect $270 and $280 to be formidable resistance levels for the next few trading days.

 

In the News

Evolution shuts it’s doors taking thousands of Bitcoin from users (Qntra)

George Osborne to unveil Bitcoin regulations in next budget (IB Times)

Coinapult’s hot wallet hacked (Twitter)

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 – 4 March 2015

Price Action

Early morning in China the rally popped to a new local high of $294 on Bitfinex. The fade has come on strong and the price is down below $280. The rally feels to be on its last legs, a violent plunge to $260 could be in the cards.

 

Trade Ideas

Take profits if you were long until now. Begin to fade this rally with a price target below $270. Use the daily futures contract, XBU24H to express this view.

 

In the News

California unveils it’s own BitLicense (CoinDesk)

QuadrigaCX to become world’s first publicly traded Bitcoin exchange (Bitcoin Magazine)

ApplePay fraud skyrockets (WSJ)

Crypto Trader Daily – 1 March 2015

Price Action

The $250 level was compromised in a sharp move lower to $245. It appears a new range of $240-$250 will emerge. Weekend trading volumes were quite light. Chinese traders are expected to return in force on Monday.

Trade Ideas

During this range bound trading, go short at $250 and long at $240. Use XBU24H to accumulate short term positions.

In the News

Dutch court case to decide Bitcoin’s legal status (CoinTelegraph)

 

 

Crypto Trader Daily – 25 February 2015

Price Action

Chinese traders are still in holiday mode. The price stayed in a tight range of $235-$240. Volumes have yet to pick up.

Trade Ideas

Until trading  volumes increase, buy dips and sell spikes in the $230-$240 range. Use XBU24H (daily inverse futures contract) to trade short term price movements.

In the News:

NIRP: JP Morgan beings charging on some deposits (MarketWatch)

Boston Federal Reserve bullish on Bitcoin technology (CoinDesk)