Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, after failing to reach 38.2%, the descending correction transformed into a new rising wave, which, after breaking the previous high, has already entered the post-correctional extension area between 138.2% and 161.8% fibo at 47080.00 and 50213.00 respectively. At the same time, there is a divergence on MACD, which may hint at a new pullback to the downside.
The H1 chart shows a local divergence within the post-correctional extension area between 138.2% and 161.8% fibo at 47080.00 and 50213.00 respectively. The correctional downtrend may reach the previous high at 42017.50 or even 76.0% fibo at 38890.00.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
ETHUSD, “Ethereum vs. US Dollar”
The H4 chart shows a stable uptrend, which may break the high at 1840.04 and then reach the post-correctional extension area between 138.2% and 161.8% fibo at 1930.90 and 2248.70 respectively. However, there is a divergence on MACD, which may hint at a new short-term correction to reach 23.6%, 38.2%, 50.0%, and 61.8% fibo at 1424.17, 1168.68, 960.19, and 753.75 respectively.
As we can see in the H1 chart, the pair is correcting after completing the ascending wave and has already reached 23.6% fibo. Later, the price may continue falling towards 38.2% and 50.0% fibo at 1622.80 and 1555.60 respectively. At the same time, a breakout of the local low at 1207.60 may hint at a further mid-term downtrend.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- The Dollar Index strengthened on Powell’s comments. The Bank of Mexico cut the rate to 10.25% Nov 15, 2024
- EURUSD Faces Decline as Fed Signals Firm Stance Nov 15, 2024
- Gold Falls for the Fifth Consecutive Trading Session Nov 14, 2024
- Profit-taking is observed on stock indices. The data on wages in Australia haven’t met expectations Nov 13, 2024
- USD/JPY at a Three-Month Peak: No One Opposes the US Dollar Nov 13, 2024
- Can Chinese Tech earnings offer relief for Chinese stock indexes? Nov 13, 2024
- Bitcoin hits an all-time high above $88,000. Oil remains under pressure Nov 12, 2024
- Brent Crude Stumbles as Market Sentiments Turn Cautious Nov 12, 2024
- Bitcoin hits new record high just shy of $82,000! Nov 11, 2024
- The Dow Jones broke the 44 000 mark, and the S&P 500 topped 6 000 for the first time. The deflationary scenario continues in China Nov 11, 2024
