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
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
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
Mixed
More View more
Real Time News
  • Nasdaq 100, Hang Seng, ASX 200 Outlook: Tech Earnings in Focus as US Stocks Hit Records https://www.dailyfx.com/forex/market_alert/2021/04/19/Nasdaq-100-Hang-Seng-ASX-200-Outlook-Tech-Earnings-in-Focus-as-US-Stocks-Hit-Records.html https://t.co/hrSux6PveT
  • #Bitcoin Tumbles Amid Xinjiang Blackout, Possible US Treasury Investigation - https://www.dailyfx.com/forex/market_alert/2021/04/19/Bitcoin-Tumbles-Amid-Xinjiang-Blackout-Possible-US-Treasury-Investigation.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $BTC https://t.co/zs4eQVrKEP
  • 🇯🇵 Balance of Trade (MAR) Actual: ¥663.7B Expected: ¥490B Previous: ¥215.9B https://www.dailyfx.com/economic-calendar#2021-04-18
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8yG5lv https://t.co/j7No5uPhYF
  • 9 out of 11 S&P 500 sectors ended higher, with 70.9% of the index’s constituents closing in the green. Materials (+1.18%), utilities (+0.81%) and consumer discretionary (+0.78%) were among the best performers, while energy (-0.90%) and information technology (-0.03%) lagged. https://t.co/2qbzKRyx2B
  • 9 out of 11 S&P 500 sectors ended higher, with 70.9% of the index’s constituents closing in the green. Materials (+1.18%), utilities (+0.81%) and consumer discretionary (+0.78%) were among the best performers, while energy (-0.90%) and information technology (-0.03%) lagged. https://t.co/uAt7OhZvYM
  • There's no question about it, trading brings about much emotion. Knowing how to control emotions while trading can prove to be the difference between success and failure. Learn more about managing emotion in trading here: https://t.co/FC7CHp2y70 https://t.co/UvcEzMKGmI
  • What are some key takeaways for trading gold? Get your free insight here: https://t.co/lnxaQOsgid https://t.co/GOBTKkCEKh
  • *Reminder: Weekly Strategy Webinar Monday morning at 8:30am ET (12:30GMT) on DailyFX - https://t.co/lxd5fZ5LG7 Mid-Weekly Technical Update on Wednesday at 9:30am ET (13:30GMT) with IG - https://t.co/8SFBJxwo30
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here: https://t.co/1ZR5OCfY3u https://t.co/NMiJrp6wmP
Bitcoin (BTC) Price Rally Cracks, Hit by Weekend 'Flash Crash'

Bitcoin (BTC) Price Rally Cracks, Hit by Weekend 'Flash Crash'

Nick Cawley, Strategist

Bitcoin (BTC) Price Forecast, Analysis and Chart:

  • Bitcoin (BTC) trades in a $700 range over the weekend.
  • BTC needs to consolidate if it is to push higher.

If you are interested in trading the cryptocurrency market, we have produced aDay Trading Guide to Bitcoin and Other Cryptocurrenciesto help you better understand this highly volatile asset class.

Cryptocurrency Rally Hits Reverse Gear

Bitcoin (BTC) gave back most of last week’s gains in one violent move on Sunday, with the token slumping in value by over $500 in a very short timeframe and trading in a a$700 price range for the day. As with a lot of these spikes and slumps, there was no obvious reason for the move, although futures liquidation has been mooted. On Friday we warned that the weekend provides fertile ground for sharp price action,

As always with this sector, sharp moves either way can occur in a short timeframe, and with the market trading 24/7, care should be taken over the weekend.

IG client sentiment shows that retail customers are 83% net-long Bitcoin, a bearish contrarian indicator.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Nick Cawley
Improve your trading with IG Client Sentiment Data
Get My Guide

Bitcoin Bounces off Supportive Zone

We mentioned recently that Bitcoin seems to have found a new support zone between $8,388 and $8,481 and this held over the weekend giving BTC a supportive bounce. The chart also shows that the 200-day moving average – currently at $9,073 - acted as resistance to the recent rally and this indicator will need to be broken and closed above if BTC is to rally further.The short-term pattern of higher lows remains in place despite the sell-off, although for BTC to break its series of lower highs it needs to trade above $9,935, the October 28 high.

Bitcoin (BTC) Daily Price Chart (August 2019 - January 17, 2020)

Bitcoin price chart showing weekend flash crash

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on the latest Bitcoin rally and crash? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES