Crypto Trader Daily - 4 March 2015

Price ActionEarly 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 IdeasTake 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 NewsCalifornia unveils it's own BitLicense ( CoinDesk) QuadrigaCX to become world's first publicly traded Bitcoin exchange ( Bitcoin Magazine) ApplePay fraud skyrockets ( WSJ)