News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • $GBPUSD rose back above 1.3700 after slipping to near 1.3600 earlier this morning. The pair is currently trading near the two year high of 1.3746 set last week. $GBP $USD
  • 🇺🇸 House Price Index MoM (NOV) Actual: 1% Previous: 1.5%
  • $NZDUSD breakout from the cup and handle
  • The US Dollar has fallen to an intraday low, with the $DXY dropping from near 90.50 this morning to currently trade around 90.23. $USD
  • Heads Up:🇺🇸 House Price Index MoM (NOV) due at 14:00 GMT (15min) Previous: 1.5%
  • IMF Chief Economist Gopinath: - Biden stimulus plan could boost US GDP by 1.25% in 2021, 5% over three years $USD $SPY
  • A forex trader is strategic, disciplined and always switched on to the markets. Learn how to build an FX mindset here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 69.78%. See the summary chart below and full details and charts on DailyFX:
  • $NZDUSD strength this morning has driven the pair to trade around 0.7230, its highest level since January 14th. $NZD $USD
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.44% 🇦🇺AUD: 0.21% 🇨🇦CAD: 0.17% 🇯🇵JPY: 0.05% 🇪🇺EUR: 0.03% 🇨🇭CHF: -0.02% View the performance of all markets via
Bitcoin Slumps after Surging to New High as Sellers Strike

Bitcoin Slumps after Surging to New High as Sellers Strike

Nick Cawley, Strategist

Talking Points

- Bitcoin hit a record high of just under $4,500 but then fell by 10% as sellers took control of the market.

- Cryptocurrency market covered in a sea of red with gainers scarce.

Check out our new Trading Guides: they’re free and have been updated for the third quarter of 2017

Bitcoin (BTC) Corrects Lower After Asian Traders Send Price to a Record High

Volatility returned to the digital currency space with the price of BTC jumping to a record high of $4,430 before falling back to trade at a low of $3,940, all in the space of eight hours. And worryingly for Bitcoin holders, the price could continue to correct lower with the 100-day ema, currently at $3,906 the first target, ahead of the $3822. A report over the weekend by Goldman Sach’s influential Bitcoin technical analyst Sheba Jafari pointed to the token making a potential high of $4,827 before targeting a correction all the way down to $2,221.

It will now be interesting to watch price action in Asian hours where the majority of the heavy buying has been seen in the last few weeks. The two ‘gaps’ on the daily chart show where US trading finished on the Friday and where UK trading opened on the Monday. The two latest gaps both showed markets opening around 10% on Monday.

Chart: Bitcoin (BTC) Price: Daily/1 Hour Timeframes– August 15, 2017

Bitcoin Slumps after Surging to New High as Sellers Strike

Chart by IG

The slump in Bitcoin was mirrored in a range of other digital currencies with only a handful of altcoins trading in positive territory. The slump knocked off around $7 billion of the market capitalization – currently just under $135 billion – although the market is still $17 billion higher than one-week ago.

Market Moves/Top 7 Capitalizations – August 15, 2017

Bitcoin Slumps after Surging to New High as Sellers Strike

I will be discussing Bitcoin Trading and Strategy on Wednesday Aug 16 at 12:00 pm – if you would like to join me, please click here.

If you are interested in trading digital pairs and would like to practice trading either BTC or ETH, you can create a Quick and Free Demo Account Here

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.