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.



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
More View more
Real Time News
  • 🎯 Bitcoin extending its surge through the weekend to trade back above $35K. Seeing some serious upward momentum here, but in light of Fed event risk this week, it may be prudent for short-term tactical traders to consider unwinding exposure a bit. #Bitcoin $BTC $BTCUSD
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • RT @FxWestwater: Asia AM - New Zealand Dollar Outlook: $NZDUSD Breakout Chance Shifts Into View…
  • 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:
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX! A look at the levels heading into #FOMC -
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • Markets Week Ahead: Euro, Dollar, Gold, S&P 500, Earnings, Inflation Check out @RichDvorakFX's latest market recap and preview plus all the weekly forecasts from the @DailyFXTeam at the link below! Link to Analysis - $EURUSD $SPX #Trading
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
Bitcoin Price Plunges Through Support; ETH, XRP & LTC Slide Similarly

Bitcoin Price Plunges Through Support; ETH, XRP & LTC Slide Similarly

Peter Hanks, Strategist

Bitcoin Price Forecast:

  • Bitcoin slipped over 10% Tuesday afternoon, falling from $9,700 to $8,700 after key technical support was breached
  • The move was the coin’s largest since July 16 when it dropped over 13%
  • Not to be outdone, ETHUSD, XRPUSD and LTCUSD cratered alongside the more-popular BTCUSD

Bitcoin Price Plunges Through Support, ETH, XRP and LTC Slide Similarly

Bitcoin prices cratered over 10% on Tuesday as an area of longstanding support around $9,545 was breached. The initial break was gradual but bears quickly took control and pressured prices comfortably beneath the area of technical support – resulting in the subsequent bloodbath. Falling from $9,300 to $8,600 in just 15 minutes, the afternoon price action was enough to put BTCUSD on pace for its worst daily performance since July 16 when the coin dropped more than 13%.

Bitcoin Price Chart: Daily Time Frame (April – September) (Chart 1)

BTC Bitcoin Price Chart Technical Analysis

Suffering a bearish break, the coin will now look for subsequent support in an attempt to stem further losses. An immediate level of note is the 200-day moving average which currently resides around $8,300. A break below this level could see losses accelerate as bearish momentum builds. If pierced, Fibonacci support around $7,100 may look to provide secondary support. BTC still enjoys a year-to-date return of 126% but Tuesday’s breakdown is a worrisome development for cryptocurrency believers.

Bitcoin Price Chart: 1 – Minute Time Frame (September 24) (Chart 2)

BTCUSD crypto-currency market sinks Bitcoin XRP ETH LTC

To that end, Ethereum, XRP and Litecoin suffered similar losses as the cryptocurrency market endures another rout – akin to the crypto selloff in late August.While Bitcoin and the various altcoins – apart from XRPUSD - have enjoyed positive returns in the year-to-date, the recent string of losses will likely work to further undermine market sentiment and could bring about a continuation lower barring a fundamentally bullish development to shift the tide.

While the abrupt declines are undoubtedly concerning, the quick recovery effort from XRPUSD could suggest some factions of the crypto market believe the selloff is overdone – creating potential for a period of consolidation before continuing lower. As Bitcoin looks to regain its footing, follow @PeterHanksFX on Twitter for further updates and analysis.

--Written by Peter Hanks, Junior Analyst for

Contact and follow Peter on Twitter @PeterHanksFX

Read more:Dow Jones Forecast: Nike Earnings to Deliver Trade War & Retailer Insight

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