Crypto Trader Daily – 4 April 2015

Price Action

The range today was $250-$255. The price bounced a few times off the $250 support. It appears that this rally lacks additional horsepower, and will succumb to the fade and retest $240 in short order.

 

Trade Idea

Short XBUJ15 around $255 and increase the short if $250 is breached. The downside target price is $235.

 

In the News

Bitcoin Alternative LEOCoin Linked to Suspected Pyramid Scheme (CoinDesk)

The Truth About The Bitcoin Foundation (Reddit)

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 – 2 April 2015

Price Action

A quiet day before the start of the Easter weekend. The price stayed between $243 to $250. With New York and London on holiday starting tomorrow, it is an opportune time for savvy traders to push the market without the use of much capital.

 

Trade Idea

Expect market gyrations during over the weekend. The downtrend has not definitively been broken, so short XBUJ15 above $245 with a $235 target price.

 

In the News

UBS to open Blockchain research lab in London (WSJ)

US Presidential order allows the state to confiscate crypto holdings ‘Without Prior Notice’ (CoinTelegraph)

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 – 27 March 2015

Price Action

Today was a quiet range bound trading day. The price touched a high of $255 and a low of $245. The GBTC or the first Bitcoin investment vehicle to be listed in America (on the pink sheets) went live today. It was an anti-climactic launch with no major price movements after it went live.

 

Trade Idea

Establish a short position with XBUJ15 above $250 on the hunt for a break down below $240 over the weekend.

 

In the News

Bitcoin Investment Trust goes live on the American pink sheets market (CoinDesk)

Isle Of Man clarifies Bitcoin regulations (CoinDesk)

Crypto Trader Daily – 26 March 2015

Price Action

The price slowly melted up above $250 and looks poised to take another stab at $260. It would be premature to declare the bear raid over, expect the $235 lows to be retested in the near future, possibly over the weekend.

 

Trade Idea

Begin to short XBUJ15 if the price retraces below $250 after the recent run up.

 

In the News

SEC adopts rules to facilitate smaller companies’ access to capital (SEC)