Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, there was a convergence on MACD, which made BTCUSD start a new ascending correction, which has already reached the retracement of 23.6. The next possible targets may be the retracements of 38.2% and 50.0% at 4427.00 and 4835.00 respectively. The support level is at 3121.90.
In the H1 chart, there was a divergence on MACD that made the pair complete the uptrend and start a new descending impulse, which has already reached the retracement of 23.6%. The next downside targets may be the retracements of 38.2% and 50.0% at 3770.00 and 3645.00 respectively. The local resistance is at 4172.40.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the convergence made ETHUSD start a new rising correction, which has already reached the retracement of 23.6%. The next downside targets may be the retracements of 38.2% and 50.0% at 135.40 and 151.80 respectively. The support level is at 80.86.
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In the H1 chart, there divergence made the start a new descending correction, which has already reached the retracement of 23.6%. The next downside targets may be the retracements of 38.2% and 50.0% at 104.40 and 99.90 respectively. The local resistance is at 118.90.
Article By RoboForex.com
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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.