Crypto Trader Daily - 25 March 2015

Price Action

Intraday price volatility spiked as the the price crashed to $235 on Bitfinex. Minutes later a violent short squeeze sent the price back to $250. The downtrend is still in effect, but the violent squeezes are a warning for shorts not to get too greedy. Expect a retest of the $235 lows and ultimately $230.

Trade Idea

Sell XBUH15 above $245 with a downside target price of $235. Cover the position if the price trades above $255.

In the News

Hong Kong to leave Bitcoin unregulated ( CoinTelegraph) Neteller adds Bitcoin deposit option (C oinDesk)