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
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
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
Bullish
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • ETH/BTC spread back to levels last seen in August 2018... https://www.dailyfx.com/forex/market_alert/2021/04/22/Bitcoin-BTCUSD-Slide-Resumes-Ethereum-ETHUSD-Continues-to-Outperform.html
  • ECB Sources: ECB Hawks did not repeat calls for PEPP tapering at short, calm policy meeting on Thursday. #ECB $EUR
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇨🇦CAD: -0.08% 🇨🇭CHF: -0.10% 🇦🇺AUD: -0.44% 🇳🇿NZD: -0.61% 🇬🇧GBP: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8weSC1Z8kF
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 0.87% Germany 30: 0.80% FTSE 100: 0.35% US 500: -0.08% Wall Street: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/d68HbWLIrn
  • The US Dollar is attempting to move higher again today. The $DXY has risen from a morning low around 91.00 to currently trade around 91.35. The index tested the 91.40 level yesterday before meeting resistance and dropping lower. $USD https://t.co/JwsszQpv8J
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.31% Gold: -0.43% Silver: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gNyBVpEfPh
  • 🇺🇸 CB Leading Index MoM (MAR) Actual: 1.3% Expected: 1% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-04-22
  • Please join us at 11:00 EST/15:00 GMT for a webinar where you can learn how to identify price trends with trader sentiment. Register here: https://t.co/qguzXYUjTo https://t.co/Jw6GVisPdx
  • 🇺🇸 Existing Home Sales MoM (MAR) Actual: -3.7% Expected: 0.8% Previous: -6.3% https://www.dailyfx.com/economic-calendar#2021-04-22
  • 💶 Consumer Confidence Flash (APR) Actual: -8.1 Expected: -10.8 Previous: -10.8 https://www.dailyfx.com/economic-calendar#2021-04-22
Bitcoin (BTC/USD), Ethereum (ETH/USD) Crushed as Cryptocurrency Market is Overrun by Sellers

Bitcoin (BTC/USD), Ethereum (ETH/USD) Crushed as Cryptocurrency Market is Overrun by Sellers

Nick Cawley, Strategist

Bitcoin (BTC/USD) Price, Analysis and Chart:

  • Bullish channel is broken in a two day sell-off.
  • No specific driver of price action.
Bitcoin Trading
Bitcoin Trading
Recommended by Nick Cawley
Get Your Free Introduction To Bitcoin Trading
Get My Guide

Another wave of indiscriminate selling in the cryptocurrency market has slammed prices lower across the board with double-digit losses registered everywhere. This wave follows yesterday’s heavy sell-off, and partial retrace, amid talk that leveraged accounts were moving out of the market after recent heavy gains. As always with the cryptocurrency market, volatility and rumor go hand in hand and, while currently unlikely, any news about another corporation entering the market or adopting Bitcoin could easily reverse these losses quickly. However, as we speak sellers have complete control of the space with some major coins falling by 20%+ and it would be foolish to try and counter this current trend.

How to Manage the Emotions of Trading

The latest sell-off has changed the technical outlook for Bitcoin (BTC/USD) with the bullish ascending channel from late-January now broken. Monday’s ‘hanging man’ candlestick is another bearish chart signal and suggests a trend reversal, although the 20-day simple moving average may lend support to current price action if closed above today. The ATR indicator shows Bitcoin volatility at a record high while the CCI reading shows the market is fairly neutral in terms of sentiment.

Top 10 Candlestick Patterns to Trade the Markets

Bitcoin (BTC/USD) Daily Price Chart (October 2020 - February 23, 2021)

Bitcoin (BTC/USD), Ethereum (ETH/USD) Crushed as Cryptocurrency Market is Overrun by Sellers

Traders of all levels and abilities will find something to help them make more informed decisions in the new and improved DailyFX Trading Education Centre

What are your views on Bitcoin (BTC) – 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