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 (C oinTelegraph)

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