Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the convergence made BTCUSD reverse and start a new ascending correction, which has already reached the retracement of 38.2%. In the short-term, the price may continue the correction towards the retracements of 50.0% and 61.8% at 11613.00 and 12935.00 respectively. The main support level is the low at 5980.00.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair is trading upwards to reach 11613.00. However, we can see the divergence being formed, which may indicate a new short-term correction to the downside towards the retracements of 38.2% and 50.0% at 9505.00 and 9290.00 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
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ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is forming a new ascending correction after the convergence. By now, the correction has already reached the retracement of 50.0%. The next target may be the retracement of 61.8% at 1000.00. After reaching the target, the price may resume falling. The targets of this possible decline may be the retracements of 23.6%, 38.2%, 50.0%, and 61.8% at 896.00, 833.00, 784.00, and 735.00 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 trading towards 1000.00.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
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.
