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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Japanese Gov't recommends 2-week extension of Tokyo virus emergency - BBG $JPY
  • While the rise in yields is weighing on risk trends, carry trade didn't seem to take the hit. In fact, the charge in US yields seems to have far outweighed the de-risking from $USDJPY's perspective: https://t.co/KpOpgopOep
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.09% 🇬🇧GBP: -0.40% 🇦🇺AUD: -0.69% 🇳🇿NZD: -0.81% 🇯🇵JPY: -0.90% 🇨🇭CHF: -0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8Tvotykz9y
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.33% Gold: -0.69% Silver: -2.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/faJTbi16VK
  • AUD/USD now off daily lows, remains much weaker as a result of broad US Dollar strength $AUDUSD https://t.co/OkdKWbepAR
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 70.14%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XXOjh5LmaB
  • Silver price action stalls between Moving Averages. Platinum prices currently confined by Fibonacci Support. Get your market update from @Tams707 here:https://t.co/Nbl8FDmfps https://t.co/VyuZzP8w2q
  • US Markets at the Close $NDX 12464.0 -1.73% $SPX 3768.49 -1.34% $DJI 30924.14 -1.11%
  • USD/JPY stronger during trade, now pushing towards 108 level $USDJPY https://t.co/GemouFGvHF
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.02% US 500: -0.03% Germany 30: -0.52% FTSE 100: -0.53% France 40: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/jsQ36v1JJy
Cryptocurrency Latest: Bitcoin (BTC), Ripple (XRP) Weekend Price Slump

Cryptocurrency Latest: Bitcoin (BTC), Ripple (XRP) Weekend Price Slump

Nick Cawley, Strategist

Bitcoin (BTC) and Ripple (XRP) Price, News and Analysis:

  • Cryptocurrency market roiled over the weekend.
  • Technical set-up remains positive for now.

A Guide to Day Trading Bitcoin and Other Cryptocurrencies

Bitcoin (BTC) – Two-Month Rally Intact

Weekend trading in the cryptocurrency space has seen sharp moves before, and this weekend was no different with a sharp sell-off across the board wiping out last week’s rally. According to market reports, one seller slammed Bitcoin lower on Saturday, taking the rest of the market lower in its wake.

cryptocurrencies prices showing sharp falls

Prices via CoinMarketCap.com

Despite the weekend sell-off, cryptocurrencies across the board are still sharply higher off the multi-month lows made in mid-December. Looking at Bitcoin, the daily chart remains positive with a series of higher highs and higher lows made since the end of last year. Bitcoin also broke above a longer-dated lower high made on October 28 last year, although this level is now being tested. The moving averages also throw a positive shadow on the chart with the 50-dma (blue) looking to break above the 200-dma (black), a bullish formation known as a ‘golden cross’. If Bitcoin can consolidate above the $9,500 level in the short-term, the market may look to press higher.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Nick Cawley
Building Confidence in Trading
Get My Guide

Bitcoin (BTC) Daily Price Chart (June 2019 – February 17, 2020)

bitcoin prices falling
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

Ripple (XRP) Slumps Nearly 20% in Three Days

Ripple, the third-largest crypto by market capitalization, has shed nearly 20% over the last three days as prior enthusiasm for the token evaporated. According to IG Client Sentiment, 97% of customers are net-long XRP, an extreme position. The chart shows that the recent rally broke the longer-term trend of lower-highs and, as with Bitcoin, if the price can consolidate around current levels, then the recent bullish momentum will remain intact. The 50-dma/200-dma crossover is also close and mat give Ripple a boost if/when it takes place.

Ripple (XRP) Daily Price Chart (May 2019 – February 17, 2020)

Ripple chart showing prices falling

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 Bitcoin (BTC) and Ripple (XRP) – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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

DISCLOSURES