Cryptocurrency Price Analysis: Bitcoin & Litecoin Probing Big Support...

Highlights: Bitcoin in danger of breaking confluence of support, important slope under pressure Litecoin also in danger of support-break, eliminating wedge possibility Ethereum trend-line at risk or breaking, if it does then 863 targeted Want to learn more about cryptocurrencies? Check out this guide, Introduction to Bitcoin Trading. Bitcoin in danger of breaking confluence of support, important slope under pressure This morning we are seeing a sizable drop in cryptocurrency-land, with double-digit percentage declines taking place across the board. Bitcoin is in real danger of breaking critical support by way of a slope extending higher from May and horizontal levels. The slope dating back to May is viewed as rather significant given its influence on several occasions since, most recently in November. While it has always been a form of resistance, once it was broken it became a source of support. The May slope along with price levels during December make the ~11700/150 price zone an important one. Hold and Bitcoin lives to fight another day, possibly building the descending wedge we discussed last week. Break, and the trend-line from July in the low 10000s andArticle source:...

USDJPY Reversal in Play As Sentiment Shifts...

USDJPY: Retail trader data shows 65.9% of traders are net-long with the ratio of traders long to short at 1.93 to 1. In fact, traders have remained net-long since Dec 29 when USDJPY traded near 113.208; price has moved 2.2% lower since then. The number of traders net-long is 7.5% higher than yesterday and 31.5% higher from last week, while the number of traders net-short is 11.1% lower than yesterday and 18.4% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bearish contrarian trading bias. — Written by Dylan Jusino, DailyFX Research Article source:...

Trader Sentiment Suggests Bitcoin Slump Could Continue...

New to Bitcoin? Be sure to check out our new Bitcoin Trading Guide! Bitcoin: Retail trader data shows 79.0% of traders are net-long with the ratio of traders long to short at 3.77 to 1. The number of traders net-long is 8.0% higher than yesterday and 16.2% higher from last week, while the number of traders net-short is 4.8% higher than yesterday and 0.5% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Bitcoin-bearish contrarian trading bias. — Written by Dylan Jusino, DailyFX Research Article source:...

Euro Sentiment Shifts, Dollar May Be Under Pressure...

EURUSD: Retail trader data shows 32.4% of traders are net-long with the ratio of traders short to long at 2.09 to 1. The number of traders net-long is 5.9% lower than yesterday and 8.1% lower from last week, while the number of traders net-short is 6.8% higher than yesterday and 5.8% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURUSD-bullish contrarian trading bias. — Written by Dylan Jusino, DailyFX Research Article source:...

Bitcoin May Continue to Plummet Amid Clear Warning in Sentiment...

The value of Bitcoin and other cryptocurrencies has fallen sharply on the day, and BTCUSD fell below the psychologically-significant $10,000 mark amid the broader market sell-off. A look at IG Client Sentiment warns that Bitcoin and other major cryptocurrencies may nonetheless continue lower. Our data shows the percentage of clients long BTCUSD has risen close to the highest-levels recorded—hitting 79 percent at time of writing. We use such heavily one-sided sentiment as a contrarian signal to price action, and the fact that traders long outnumber those short by nearly 4 to 1 acts as a clear warning of further declines. Data source: IG Client Sentiment as shown on DailyFX.com The overall number of clients long Bitcoin has literally never been higher, and that number has grown as BTCUSD has plummeted—rising 9 percent despite the 20+ percent decline in the underlying market. And although we do not yet have comparable historical data for other major cryptocurrencies, current IG Client Sentiment readings for Ripple (XRPUSD at 97 percent long), Ether (ETHUSD at 95 percent long),Article source:...

ASX 200 Technical Analysis: Uptrends Remain Secure, Even Up Here...

Talking Points: The ASX 200 is testing ten-year highs One problem is that it didn’t look especially comfortable up here even back in 2008 Still, for the short-term at least it looks quite well supported Get trading tips and join us to trade the major economic data live and interactive at the DailyFX Webinars. We’d love to have you along. Riding a wave of general risk appetite which has lifted global equity into 2018, the ASX 200 has risen to highs not seen for ten years or so. So far so good but we’re now into territory in which the index has only spent nine months since 2008. And even the last three months of that period were spent in what proved to be a long fall which took the index down to its ten-year lows. That said there seems little cause for immediate alarm, despite current altitude. On the most basic level the index doesn’t look obviously overbought. Its Relative Strength Index is creeping up, to be sure, but it’s not yetArticle source:...