Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD hasn’t completed the correction yet. After reaching 38.2% fibo, the pair may yet continue moving towards 50.0% and 61.8% fibo at 7012.00 and 6522.00 respectively. However, in the current attempts to grow transform into a new rising wave, the instrument may break the high at 9098.70 and then reach its mid-term target at 50.0% fibo (10170.00).
In the H1 chart. BTCUSD is being corrected upwards and has already reached 50.0% fibo. The next upside target may be 61.8% fibo at 8458.00. At the same time, there is a divergence on MACD, which may indicate the completion of the local tendency. The key target of a possible descending impulse may be the low at 7435.10.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is finishing correctional descending wave at 38.2% fibo and may start a new one to the upside. If the price fails to form a proper rising impulse and break the high at 288.99, the instrument may start another descending wave to reach 50.0% and 61.8% fibo at 217.63 and 200.91 respectively.
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In the H1 chart, the convergence made the pair start a new uptrend, which has almost reached 61.8% fibo at 265.15. The next upside target may be 76.0% fibo at 273.93. If the instrument breaks the support at 226.56, it may continue its mid-term downtrend.
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.
