Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, after finishing the descending wave, BTCUSD started a new correction, which has already reached the retracement of 50.0%. The next targets may be the retracements of 61.8% and 76.0% at 3980.00 and 4060.00. The key target of this rising impulse will be the high at 4188.00. The local support is at 3764.00; the key one – 3652.60.
In the H1 chart, the current range is getting narrow; there is a signal for growth on MACD. Possibly, the pair may break the range upwards and reach the short-term high at 3945.70. After breaking the high, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 4008.00 and 4047.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD may start a new rising wave. The closest target of this uptrend may be the retracements of 50.0%, 61.8%, and 76.0% at 144.20, 149.30, and 155.50 respectively. In case the price start a new descending impulse after breaking the local support at 122.57, the instrument may fall towards the retracement of 76.0% at 115.90).
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In the H1 chart, ETHUSD is being corrected upwards. The first target will be the high at 140.45. After breaking it, the pair may continue growing to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 145.45 and 148.45 respectively. The support is the low at 127.40.
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.