Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD has already been corrected to the upside by 23.6%. The next possible targets of this ascending correction are the retracements of 38.2% and 50.0% at 7350.00 and 7850.00 respectively. The support level is the low at 5750.00.
In the H1 chart, the divergence made the pair reverse and formed a new descending correction that completed at the retracement of 61.8%. Later, the instrument stared another correction to the upside, which has already reached the retracement of 23.6%. The next possible targets are the retracements of 38.2% and 50.0% at 6350.00 and 6437.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is being corrected upwards and has already reached the retracement of 38.2%. The next upside targets are the retracements of 50.0% and 61.8% at 516.00 and 543.00 respectively. However, if the instrument breaks the low at 404.21, it may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 372.00 and 353.00 respectively.
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In the H1 chart, the convergence made ETHUSD reverse and start a new correction upwards, which has already reached the retracement of 23.6% and may continue towards the retracements of 38.2%, 50.0%, and 61.8% at 446.50, 455.70, and 464.70 respectively.
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.
