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
Wall Street
Bearish
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
GBP/USD
Bearish
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
More View more
Real Time News
  • 🇬🇧 Retail Sales ex Fuel YoY (AUG) Actual: -0.9% Expected: 2.5% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-09-17
  • 🇬🇧 Retail Sales YoY (AUG) Actual: 0% Expected: 2.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-09-17
  • 🇬🇧 Retail Sales YoY (AUG) Actual: 0% Expected: 2.7% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2021-09-17
  • 🇬🇧 Retail Sales ex Fuel YoY (AUG) Actual: -0.9% Expected: 2.5% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2021-09-17
  • Heads Up:🇬🇧 Retail Sales ex Fuel YoY (AUG) due at 06:00 GMT (15min) Expected: 2.5% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2021-09-17
  • Heads Up:🇬🇧 Retail Sales YoY (AUG) due at 06:00 GMT (15min) Expected: 2.7% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2021-09-17
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/bx1oliPB4J
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/U40lgEA8K7
  • New Zealand Dollar Vulnerable as NZD/USD Eyes Falling Wedge - #NZDUSD chart https://t.co/9AGaZsMFmF
  • (Gold Briefing) Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally #Gold #XAUUSD #USD #Bonds https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/09/17/Gold-Price-Outlook-Turns-to-UofM-Sentiment-as-US-Dollar-Treasury-Yields-Rally.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/p7VdFesUb1
Bitcoin, Ethereum, Ripple Prices Diverge; South Korea Mulls Ban

Bitcoin, Ethereum, Ripple Prices Diverge; South Korea Mulls Ban

Nick Cawley, Strategist

Bitcoin/Cryptocurrency News and Talking Points

- No real trend in the cryptocurrency heavyweights BTC, ETH and XRP, leaving market capitalization little changed.

- South Korea needs ‘sufficient consultation’ before any cryptocurrency ban.

Cryptocurrency Market Capitalization Remains Rangebound

The top three digital currencies by market capitalization, Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are taking different paths today as traders position themselves for the latest round of news from the South Korean Government. The ‘will they/won’t they’ ban cryptocurrency trading took a new turn on Monday when South Korean authorities said that before they make a decision, they would need ‘sufficient consultation and coordination of opinions,’ a vague phrase with no real time frame. In reasonable turnover Monday, BTC rose by around 5%, ETH traded flat, while XRP fell by over 2% - all minor changes compared to recent moves. DailyFX analyst Paul Robinson looked at the technical set-ups in all three digital coins last week in his Weekly Cryptocurrency Trading Outlook.

Bitcoin and Ethereum prices fell sharply last week after South Korean authorities raided various cryptocurrency exchanges.

After hitting a market capitalization in excess of $850 billion at the start of the year, mainly driven by a surge in altcoins, the cryptocurrency market cap has steadied over the last week with gains in market heavyweights being countered by losses in altcoins and vice versa as traders balance positions.

Cryptocurrency Market Capitalization One Week Chart (January 8 - 15, 2018)

Bitcoin, Ethereum, Ripple Prices Diverge; South Korea Mulls Ban

Bitcoin (XRP) Price Charts Shows a ‘Tightening Triangle’

A potential ‘Tightening Triangle’ formation on the Bitcoin chart below could spell a sharp move to the upside in the coming days, following the underlying uptrend. A break to the upside could see BTC setting itself up for another fresh attempt at the all-time high, while a break to the downside could see support at $11,600 – low on December, 6, 24 and 30 – kick in, keeping the overall move higher intact.

Bitcoin (BTC) Price Chart Daily Timeframe (October 1, 2017 – January 15, 2018)

Bitcoin, Ethereum, Ripple Prices Diverge; South Korea Mulls Ban

Top 8 Cryptocurrencies by Market Capitalization – January 15, 2018

Bitcoin, Ethereum, Ripple Prices Diverge; South Korea Mulls Ban

Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Ripple or Litecoin, we can offer you a wide range of free resources to help you. We have an Introduction to Bitcoin Trading Guide along with a Free Practice Account. In addition we run a Weekly Bitcoin Webinar and have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

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

DISCLOSURES