Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, after falling towards 38.2% fibo, BTCUSD has returned to 23.6% fibo. In this case, the price is expected to for a new wave to the downside to reach 50.0% and 61.8% fibo at 8605.00 and 7358.00 respectively. However, one shouldn’t exclude a possibility of a new growth towards the resistance at 13857.20.
In the H1 chart, the previous downtrend has been corrected by 50.0%. There is a chance that the price may continue growing towards 61.8% and 76/0% fibo at 12259.00 and 12850.00 respectively, but is chance is rather slight. The short-term downside target is the low at 9666.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the daily chart, ETHUSD is being corrected in the form of Triangle pattern to reach 38.2% fibo at 262.78 or even 50.0% fibo at 231.73. The resistance is the high at 363.18.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
In the H1 chart, the pair is stuck between the resistance and the support at 23.6% (301.12) and 38.2% (262.78) respectively.
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.
