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. See our updated Privacy Policy here.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Dow Jones Retreats Ahead of FOMC, Nikkei 225 and ASX 200 Open Lower https://www.dailyfx.com/forex/market_alert/2021/06/16/Dow-Jones-Retreats-Ahead-of-FOMC-Nikkei-225-and-ASX-200-Open-Lower.html https://t.co/2sjz9ZpHgH
  • 🇦🇺 Westpac Leading Index MoM (MAY) Actual: -0.06% Previous: 0.19% https://www.dailyfx.com/economic-calendar#2021-06-16
  • MSCI #EmergingMarkets Index (EEM), which is heavily weighed in Chinese stocks, has been struggling to breach the 54.97 - 55.34 inflection zone A hawkish #Fed (especially amid ebbing #PBOC liquidity measures), could risk weighing the index Breach under 20-day SMA exposes MAR low https://t.co/4WQED01FWV
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/Lt3Z0TODqu
  • Natural gas spot prices have been on the rise, recapturing a key trendline, following the EIA’s Short-Term Energy Outlook. Where can prices head from here? Find out from @FxWestwater here:https://t.co/yK48nZD1ag https://t.co/CPBSrdO485
  • Heads Up:🇦🇺 Westpac Leading Index MoM (MAY) due at 01:00 GMT (15min) Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-06-16
  • 🇯🇵 Balance of Trade (MAY) Actual: ¥-187.1B Expected: ¥-91.2B Previous: ¥253.1B https://www.dailyfx.com/economic-calendar#2021-06-15
  • 🇯🇵 Machinery Orders YoY (APR) Actual: 6.5% Expected: 8% Previous: -2% https://www.dailyfx.com/economic-calendar#2021-06-15
  • Heads Up:🇨🇭 US-Russia Meeting due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-16
  • Heads Up:🇯🇵 Balance of Trade (MAY) due at 23:50 GMT (15min) Expected: ¥-91.2B Previous: ¥255.3B https://www.dailyfx.com/economic-calendar#2021-06-15
Bitcoin (BTC), Ethereum (ETH), Alt-Coins - Beware of Weekend Volatility

Bitcoin (BTC), Ethereum (ETH), Alt-Coins - Beware of Weekend Volatility

Nick Cawley, Strategist

Bitcoin (BTC/USD), Ethereum (ETH/USD), and Alt-Coin Analysis and Charts:

  • Bitcoin (BTC/USD), Ethereum (ETH/USD) struggle to break higher.
  • Lower volume over the weekend may spark a volatility breakout.

The cryptocurrency market is on the back foot ahead of a long weekend in a raft of countries, including the UK and the US, and with volatility levels still high, whippy price action over the coming days cannot be discounted. The current market capitalization is around $1.6 trillion and is nearly 40% off its all-time peak, highlighting that the recent heavy losses have not been pulled back to any great extent. Traders need to be aware that low volume and high volatility markets are ripe for large swings, and with sentiment in the cryptocurrency market still dented, further losses cannot be ruled out.

JOMO is the New FOMO: Trade with the Joy of Missing Out

Bitcoin continues to struggle and any rally will have to overcome the 200-day simple moving average which is currently capping BTC/USD. Bitcoin has not been below the 200-dsma for over a year, so the recent breakdown remains worrying. The 200-day sma currently sits around $40,700. Volatility levels are off their recent extremes but remain high at $4,650 compared to a spot price of $37,000

Bitcoin (BTC), Ethereum (ETH), Alt-Coins – Recovery Remains Fragile, Volatility Stuck at Near-Extremes

Bitcoin (BTC/USD) Daily Price Chart

Bitcoin Chart

The Ethereum chart looks a little more positive than Bitcoins and highlights the positive performance of the ETH/BTC spread this year. ETH remains above its 200-day sma by a large margin, although the recent slip below the 50-dsma is a short-term negative. If this can be regained, then $3,000 should be achieved relatively quickly. Again, volatility is high at $443 against a spot price of $2,600.

Ethereum(ETH/USD) Daily Price Chart

Ethereum Chart

The alt-coin market remains depressed with any move higher being sold into. It looks like the hot-money crowd has veered away from the alt-coin space and moved back into meme stocks. AMC Entertainment has more than doubled in the last week, alongside massive option volume, while another meme favorite GameStop is up by nearly 50%. It will need Bitcoin, and increasingly Ethereum, to steady and then push ahead to draw the fast money crown back to the alt-coin space.

Traders of all levels and abilities will find something to help them make more informed decisions in the new and improved DailyFX Trading Education Centre

What are your views on Bitcoin (BTC),Ethereum (ETH) – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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

DISCLOSURES