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.

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
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
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.19% 🇳🇿NZD: 0.09% 🇨🇭CHF: 0.08% 🇦🇺AUD: 0.05% 🇪🇺EUR: 0.03% 🇨🇦CAD: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vYpt09hgMQ
  • #Copper prices surging above the 2017 high as RSI climbs above 70 for the first time since July Hate to say I told you so......but 👉https://www.dailyfx.com/forex/market_alert/2020/11/17/Copper-Prices-Poised-to-Outperform-on-Chinese-Recovery-Vaccine-News-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CPER #XCUUSD https://t.co/u3ucCf64Vz
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.08%, while traders in NZD/USD are at opposite extremes with 74.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mUnqic6URw
  • Australia says it will vigorously fight Chinese wine tariffs - BBG $AUD $XJO
  • South Korea to decide on November 29 whether to raise social distancing rules Ministry says tougher rules could cause side effects - BBG $USDKRW
  • Get your stock market basics right - what is the stock market and how does stock trading work? Find out here: https://t.co/JfAJLAtlsY https://t.co/MIgA7RlblS
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/OSOYhffKNr
  • Japan FinMin Aso: Extra budget must also help change post-virus economy No decision on giving cash handouts to single parents Local banks must be strong enough to serve communities and must make own decisions on issues like mergers - BBG $JPY
  • China to impose anti-dumping deposits over Australian wine from Nov 28th - Reminder: Alcoholic beverage exports have over a 30% exposure to China $AUD https://t.co/jLTjF9AV68
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (OCT) due at 01:30 GMT (15min) Previous: -2.4% https://www.dailyfx.com/economic-calendar#2020-11-27
Bitcoin, Ether, Ripple - Sharp Sell-Off Wrecks Sentiment | Webinar

Bitcoin, Ether, Ripple - Sharp Sell-Off Wrecks Sentiment | Webinar

2018-09-05 12:30:00
Nick Cawley, Strategist
Share:

Cryptocurrency Prices, News and Technical Analysis

  • Positive market sentiment washed away as sellers run riot.
  • Support levels look vulnerable on the charts.

Cryptocurrency Prices Crash in One-Hour Timeframe

A heavy sell-off saw bids disappear and sent markets sharply lower in mid-morning trade with little on the wires to explain the crash. Tokens that had been gradually nudging higher over the past two-to three-weeks saw their gains wiped out in a one-hour timeframe as trading sentiment turned sharply bearish in the short-term. Theories behind the sell-off include an exchange liquidating a position/s, trading difficulties at one exchange (unsubstaniated) and a story circulating that US investment powerhouse Goldman Sachs had ditched plans to open a cryptocurrency trading desk for now.

Bitcoin, Ether, Ripple - Sharp Sell-Off Wrecks Sentiment | Webinar

Market leader Bitcoin (BTC) was the least affected in the sell-off, but still dropped nearly 5% and now hovers either side of $7,000, down $400 in the session.

Bitcoin (BTC) 30-Minute Price Chart (November 2017 – September 5, 2018)

Bitcoin, Ether, Ripple - Sharp Sell-Off Wrecks Sentiment | Webinar

Ethereum (ETH) came close to touching a near one-year low during the crash and needs support at $258 to hold or $200 comes into view.

Ethereum Daily Price Chart (September 2017 – September 5, 2018)

Bitcoin, Ether, Ripple - Sharp Sell-Off Wrecks Sentiment | Webinar

We look at Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash at our Weekly Cryptocurrency Webinar every Wednesday.

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

If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you begin your journey. We have an Introduction to Bitcoin Trading Guide along with a Free Demo Account so you can practice trading this volatile asset class.

IG Sentiment Data show how retail are positioned in various cryptocurrencies and how changes in holdings can affect market sentiment.

What’s your opinion on the latest market crash? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.

--- Written by Nick Cawley, Analyst.

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

DISCLOSURES