Article By RoboForex.com
BTC USD, “Bitcoin vs US Dollar”
As we can see at the H4 chart, the BTC/USD pair continues reaching new highs slowly but steadily. In addition to that, we can see the divergence, which may indicate a possible correction in the nearest future. However, the short-term scenario is still bullish. The targets of such uptrend may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 18442.25 and 19239.00 respectively.
At the H1 chart, the pair may start a new correction after reaching its upside targets. The targets of this possible correction are the retracements of 38.2%, 50.0%, and 61.8% at 15255.28, 14003.26, and 12789.17 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the daily chart, the ETH/USD pair is being corrected to the downside and has already reached the retracement of 38.2%. The next downside target may be the retracement of 50.0% at 572.31. The price may continue growing only after breaking the current high at 755.77. The next upside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 825.87 and 868.27 respectively.
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At the H1 chart, the situation is similar and confirms the scenario described above.
RoboForex Analytical Department
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.