Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD has broken the previous low; right now, the long-term decline continues. The downside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 3105.00 and 2875.00 respectively. The resistance level is the high at 4405.56.
In the H1 chart, the downtrend continues. However, there is a convergence on MACD, which indicate a new correction ti the upside after the instrument reaches the targets inside the post-correctional extension area between the retracements of 138.2% and 161.8%.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD has broken the previous low and reached the post-correctional extension area between the retracements of 138.2% and 161.8% at 87.50 and 81.00 respectively. In the future, the instrument may start a new pullback. The key resistance is the high at 125.51.
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As we can see in the H1 chart, the convergence made the pair start a new pullback. The target may be the previous low at 98.04, which is now the resistance level.
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.
