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.

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
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.01% 🇬🇧GBP: -0.02% 🇯🇵JPY: -0.05% 🇪🇺EUR: -0.13% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vPJr6TpvF6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.90%, while traders in US 500 are at opposite extremes with 78.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xNfVZWeHaL
  • The $USD is falling against #ASEAN currencies such as the Singapore Dollar and Indonesian Rupiah as stock markets rise. Watch out for US-China escalation and Brexit talks. Get your market update from @ddubrovskyFX here:https://t.co/PziC8KZaIC https://t.co/IhJHu2WCVZ
  • For those who argue a bullish case for stocks... Let me counter with a single chart of the gold to S&P 500 ratio. Looks to me like risk-reward favors bullion over equities. $XAU $GLD https://t.co/6qiSh8E0ht https://t.co/lKViSEnrMc
  • - Silver prices could pull back as negative RSI divergence shows slowing momentum - Copper prices have risen over 20 percent, are now trading above 17-year uptrend - Monthly perspective show the base metal has entered into a key compression zone https://www.dailyfx.com/forex/market_alert/2020/06/02/Silver--Copper-Prices-Enjoyed-a-Nice-Ride---Is-it-Time-to-Get-Off.html
  • What is it about a colorful Bloomberg Terminal that is so satisfying to look at? https://t.co/Qtv9wwQv75
  • I have finally found a way to express the social climate in San Francisco and the effects of peer pressure: https://t.co/yYFXFHG2Lb
  • The US Dollar, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop.Get your market update from @ZabelinDimitri here:https://t.co/L8cfAgVx94 https://t.co/vwChirq7SL
  • S&P 500 Forecast: Stocks Face Peril as Day of Reckoning Looms Link: https://www.dailyfx.com/forex/fundamental/article/special_report/2020/06/01/spx-sp500-forecast-stocks-face-peril-as-day-of-reckoning-looms.html $SPX $SPY $ES_F #StockMarket #Investing #Analysis https://t.co/sufK8mMtD4
  • #ASEAN currencies (such as SGD, IDR, PHP and MYR) are relatively outperforming the #USD at a stronger pace than the Indian #Rupee vs the Greenback. This is despite notable gains in the MSCI #EmergingMarkets Index. Full $USDINR, #Nifty piece to come later today! https://t.co/n0SlkfnYOV
Chart Analysis - Bitcoin, Ether, Ripple and Litecoin

Chart Analysis - Bitcoin, Ether, Ripple and Litecoin

2018-04-13 15:30:00
Nick Cawley, Strategist

Bitcoin, Ripple, Ether, Litecoin - News and Talking Points

- Bitcoin technical breakout sends token 15% - 20% higher.

- A rising tide floats all boats – Ether, Ripple and Litecoin jump.

To see how retail traders are currently positioned in cryptocurrencies and what it means for market prices looking ahead, download the IG Client Sentimentpage.

Bitcoin Breakout May Have Further to Run

Bitcoin bulls will have enjoyed the later part of the week with BTC adding around 20% in the last two days. There were a lack of fundamentals drivers for the move but technical analysis pointed to a strong break above the December down trend, changing short-term market sentiment from negative to positive. To the upside the current 50-day moving average kicks-in just under $8,900 ahead of the 61.8% retracement at $9,385. The relative sentiment indicator also looks like it has further upside left. To the downside the February 6 low at $5,932 guards $5,622 and $5,388.

Bitcoin (BTC) Daily Price Chart in US Dollars(November 1, 2017 – April 13, 2018)

Chart Analysis - Bitcoin, Ether, Ripple and Litecoin

Ripple Buoyant But Resistance Looms

The third-largest crypto-coin by market capitalization has also enjoyed a strong run this week, climbing from around $0.45 to $0.68. Heavy Korean Won buying boosted the token while news that Japanese exchange SBI Holdings will help to liquidity in Japan also bought buyers back. The four-hour chart shows XRP nearing one-month resistance around $0.73 before $0.83 comes back into view. The RSI indicator is also in extreme overbought territory and may drag on any further upside. The IG Client Sentiment indicator also shows that retail remain overwhelmingly long XRP with net-longs currently standing at 96.6%.

Ripple (XRP) Four Hour Price Chart in US Dollars (February 15 – April 13, 2018)

Chart Analysis - Bitcoin, Ether, Ripple and Litecoin

Ethereum Rallies Nearly 50% in One Week

After respecting the down trend channel for the last three months, ETH has jumped sharply after building a base around $350 for a few days. The current price is now around 50% higher than this time last week, boosted by Thursday’s break of the down trend and the general positive sentiment in the market. Further upside targets start at $568, the current 50-day moving average at $635 and 61.8% retracement at $667. To the downside, $397 followed by $353 and $284.


Ethereum (ETH)Daily Price Chart in US Dollars (August 25, 2017 – April 13, 2018)

Chart Analysis - Bitcoin, Ether, Ripple and Litecoin

Litecoin Consolidation Then Break Higher

Litecoin is another to join the rally after having consolidated around $110 for the last two weeks. Again the break came at the junction with the down channel, with the 20-day ma now trading higher than 50-day ma, aiding the bull move. Reasonable resistance at $137 guards $167 and $175. To the downside, $123 ahead of $113 and $109. The RSI indicator currently is on the cusp of overbought territory.

Litecoin (LTC) Four Hour Price Chart in US Dollars (February 10 – April 13, 2018)

Chart Analysis - Bitcoin, Ether, Ripple and Litecoin

We run a Weekly Cryptocurrency Webinar every Wednesday at 12:00PM

What’s your view of the cryptocurrency market – oversold or overbought? You can leave your comments in the section below or you can contact the author by email at nicholas.cawley@ig.com or via Twitter @nickcawley1.

--- Written by Nick Cawley, Analyst.

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


News & Analysis at your fingertips.