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
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
  • Heads Up:🇩🇪 Bundesbank Mauderer Speech due at 13:30 GMT (15min)
  • UK PM Johnson spokesman says a deal is still possible but significant gaps remain, adds that EU must adopt more realistic policy for a deal
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in Germany 30 are at opposite extremes with 60.54%. See the summary chart below and full details and charts on DailyFX:
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open of the week!
  • ECB Sources - New rift opening in ECB GC over future stimulus & economic projections - Hawk wanted in Sep to quietly reduce pace of PEPP purchases and objected to projections excluding fiscal measures - Doves object to Lagarde's timid language on Euro strength
  • EU's Sefcovic says UK position far apart from what the EU can accept $GBP
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 1.16% 🇦🇺AUD: 0.55% 🇪🇺EUR: 0.34% 🇳🇿NZD: 0.21% 🇯🇵JPY: 0.15% 🇨🇦CAD: 0.01% View the performance of all markets via
  • Weekly Strategy Webinar starting in 15mins!
  • RT @meremortenlund: 🇺🇸💸Here is how to trade the US election
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
Bitcoin (BTC) Price Outlook: A New Rally Simmering or a Bull Trap?

Bitcoin (BTC) Price Outlook: A New Rally Simmering or a Bull Trap?

2019-04-03 10:30:00
Nick Cawley, Strategist

Bitcoin (BTC) Price Analysis, News and Chart:

  • Bitcoin (BTC) breakout spurs larger market advance.
  • Bitcoin Cash (BCH) ripping higher

DailyFX Bitcoin Landing Page – Prices, Charts, Analysis and Real-Time News

The cryptocurrency market dominated headlines Tuesday after sharp gains across the board with market heavyweight Bitcoin spiking nearly $1,000 higher in a few hours, before edging off its high. The rally took Bitcoin back to highs last seen in November and into a gap on the November 19 bear candle between $4,891 and $5,202. Today’s price action has seen yesterday’s high hold for now and just below the $5,000 level. The chart below highlights two important technical indicators with BTC currently above the important 200-day moving average at $4,645 while the CCI indicator shows Bitcoin in extreme overbought territory. If bitcoin moves and closes below the long-term moving average, a potential pull-back to $4,236, the breakout level, is likely on the cards. A clean break and close above $5,202 could bring old horizontal resistance levels all the way back to $6,000+ back into play.

A Guide to Day Trading Bitcoin & Other Cryptocurrencies.

Bitcoin (BTC) Daily Price Chart (September 2018 – April 3, 2019)

Bitcoin (BTC) Price Outlook: A New Rally Simmering or a Bull Trap?

Bitcoin Cash (BCH) Surges to a Fresh Multi-Month High.

Not to be outdone, Bitcoin Cash has surged by 40% in the last 24-hours according to data from Coinmarketcap and is back to levels last seen in mid-November 2018 when the coin forked.

Bitcoin (BTC) Price Outlook: A New Rally Simmering or a Bull Trap?

It should also be noted that stable coin Tether (USDT) has traded nearly eleven times its circulating supply/market cap in the last 24-hours. The last time Tether volume surged was in mid-December 2018 when markets traded at or near their recent lows.

The last few weeks has seen low volume and volatility in Bitcoin Cash (BCH) and as such any above normal buying interest, either outright or short-closing, will, and has, produced a sharp market reaction. The 200-day moving average has been breached today and further confirmation of a change in market sentiment will need to be qualified by a close above this level ($255) before looking at further upside. The CCI indicator again shows the coin in extreme overbought territory.

Bitcoin Cash (BCH) Daily Price Chart (September 2018 – April 3, 2019)

Bitcoin (BTC) Price Outlook: A New Rally Simmering or a Bull Trap?

IG Client Sentiment shows that retail traders are 78.4% net-long of Bitcoin, a bearish contrarian indicator. However, the recent daily and weekly positional changes give us a mixed trading bias.

--- Written by Nick Cawley, Market 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.