Article By RoboForex.com
BTC USD, “Bitcoin vs US Dollar”
In the H4 chart, the downtrend continues. BTC/USD is trading towards the retracement of 76.0% at 6975.00. In the long-term, the downtrend may continue and reach 2980.00.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the situation is pretty similar as the pair continue trading downwards steadily. Taking into account the convergence that is being formed, BTC/USD may reach its downside targets and then start a new ascending correction towards the area between the retracements of 23.6% and 50.0% at 8184.45 and 9544.00 respectively.
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ETH USD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETH/USD is forming a new descending impulse with the target at 769.00. After breaking it, the price may continue the correction towards the retracement of 76.0% at 714.00 and then towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 580.00 and 465.60 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair is quite quickly trading towards the target level at 769.00.
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.