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
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
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • $USDCAD pushed to fresh lows around 1.2610 today, hitting its lowest level since the spring of 2018. $USD $CAD https://t.co/3QUssEABVU
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: -0.14% Gold: -0.35% Oil - US Crude: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Tg6bH3xQw1
  • 💶 Consumer Confidence Flash (JAN) Actual: -15.5 Expected: -15 Previous: -13.8 https://www.dailyfx.com/economic-calendar#2021-01-21
  • Join us for a special #webinar at 11:00 AM EST/16:00 GMT where you can learn how to identify price trends with trader sentiment. Register here: https://t.co/MqVMi2INbJ https://t.co/IyPYLVzQEb
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 71.54%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RCA1oyMCcL
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: -0.38% Gold: -0.44% Oil - US Crude: -0.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OAvmToO5ys
  • Heads Up:💶 Consumer Confidence Flash (JAN) due at 15:00 GMT (15min) Expected: -15 Previous: -13.9 https://www.dailyfx.com/economic-calendar#2021-01-21
  • Cryptos LOD...#btc #eth #ltc #bch #cryptocurrencies @DailyFX Prices via @IGcom https://t.co/bUcGhe12Qc
  • Overall, with little surprises in the monetary policy announcement, the Euro saw little in the way of notable price action. Get your market update from @JMcQueenFX here:https://t.co/PFl52rx4mE https://t.co/kT5dBmz2Ya
  • $GBPUSD rose above 1.3700 today, hitting its highest level since the spring of 2018. $GBP $USD https://t.co/gfNCg6Abnr
Bitcoin Price Forecast: BTC/USD Signals a Possible Reversal

Bitcoin Price Forecast: BTC/USD Signals a Possible Reversal

Mahmoud Alkudsi, Analyst

BTC/USD Price Technical Outlook

  • Will bears take advantage of bull’s hesitation?
  • Levels and trading zones to consider on BTC/USD chart

BTC/USD – Disrupted Rally

Last week, Bitcoin rebounded from its highest level in nearly four weeks at $7.455 then retreated after. On Friday, the price closed the weekly candlestick with a bearish Doji pattern, highlighting a possible upcoming reversal.

The Relative Strength Index (RSI) remained flat above 50 reflecting the lack of impulse to start uptrend move.

Bitcoin PRICE DAILY CHART (FEB 15 – April 14, 2020) Zoomed Out

Bitcoin daily chart price 14-04-20 Zoomed out
Traits of Successful Traders
Traits of Successful Traders
Recommended by Mahmoud Alkudsi
Traits of Successful Traders
Get My Guide

Bitcoin PRICE DAILY CHART (JAN 15 – April 14, 2020) Zoomed In

Bitcoin daily chart price 14-04-20 Zoomed in

Looking at the daily chart, we noticed that on April 2 Bitcoin climbed to current trading zone $6.540- $7.824. Yet, the price failed in multiple occasions to overtake the 50-day average reflecting bulls hesitation at this stage.

Thus, a close below the low end of the zone opens the door for bearish comeback and possibly lead the price towards $5.625. Further close below that level could send the BTC/USD even lower towards $4.186. That said, the weekly support levels underscored on the chart (zoomed in) should be kept in focus.

On the flip-side, any close above the high end of the zone could encourage bulls to push towards $7.824. Further close above this level could mean more bullishness towards $10.507. Nevertheless, the weekly resistance levels marked on the chart should be monitored.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Mahmoud Alkudsi
Building Confidence in Trading
Get My Guide

Bitcoin PRICE FOUR Hour CHART (Mar 15 – April 14, 2020)

Bitcoin four hour price chart 14-04-20

Looking at the four-hour chart, we noticed that on Friday the price broke below the uptrend line originated from the March 30 low at $5.855. Later on, Bitcoin developed head and shoulders pattern. Therefore, any violation to the neckline located at $6.615 could lead the price towards $5.864.

A break below $6.330 would be considered another bearish signal. This increases the likelihood of falling towards $5.864. Yet, the weekly support level underlined on the chart should be considered. In turn, any break in the other direction i.e. above 7.301 could cause a rally towards $7.708. Although, the daily resistance level printed on the chart should be watched closely.

See the chart to know more about the critical levels in a further bearish/ bullish move.

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

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES