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)