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BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the correctional downtrend continues; the pair keeps updating the lows. After reaching the retracement of 76.0%, BTCUSD may continue falling towards the low at 3121.90. However, there is a convergence on MACD, which may indicate a possible pullback towards the retracement of 61.8% at 3547.00.
In the H1 chart, the pair is consolidating and testing the lows. If the price breaks the previous low and fixes below it, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 3286.00 and 3251.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, after reaching the retracement of 76.0%, ETHUSD is starting a new pullback towards the retracement of 61.8% at 111.30. In the future, the price may break the low and continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 97.50 and 95.40 respectively.
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In the H1 chart, after reaching the retracement of 76.0%, the price is forming a new correction to the upside.
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.