Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
In the H4 chart, after being corrected to the downside by 38.2%, BTCUSD is trying to form a new ascending impulse. If it succeeds, the price may break the current high at 11750.00 and then trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 12740.00 and 13325.00 respectively. However, one shouldn’t exclude a possibility that the current correction may yet continue. The next downside targets may be the retracements of 50.0%, 61.8%, and 76.0% at 8875.00, 8190.00, and 7365.00 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the H1 chart, after breaking the local high, the pair is trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 11385.00 and 11585.00 respectively.
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ETHUSD, “Ethereum vs. US Dollar”
In the H4 chart, ETHUSD is still being corrected downwards and has almost reached the retracement of 50.0%. The next downside targets may be the retracements of 61.8% (725.00), 76.0% (669.10), and the low at 570.40. However, if the price breaks the high at 977.00, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1050.00 and 1095.00 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the H1 chart, the pair is starting a new descending correction. The targets are the retracements of 50.0%, 61.8%, and 76.0% at 841.00, 828.00, and 812.20 respectively.
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.