Article By RoboForex.com
Bitcoin
On H4 the price demonstrates a rather stable descending channel. Upon trying to reach the support line and 50.0% (8600.0) Fibo the quotations developed a local impulse of correction upwards. However, it is too early to speak about the end of the mid-term descending correction. In other words, upon completion of the pullback we may expect another impulse fr declining to the target levels: 50.0% (8600.0) and 61.8% (7370.00).
On H4 the price demonstrates a rather stable descending channel. Upon trying to reach the support line and 50.0% (8600.0) Fibo the quotations developed a local impulse of correction upwards. However, it is too early to speak about the end of the mid-term descending correction. In other words, upon completion of the pullback we may expect another impulse fr declining to the target levels: 50.0% (8600.0) and 61.8% (7370.00).
Ethereum
On H4 the Ethereum demonstrates a bounce off the correction level at 61.8% Fibo, which may b the beginning of a short-term pullback to the resistance level at 38.2% (262.80). After the pullback another descending wave to 76.0% (163.45) may follow.
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On H1 the Ethereum shows an ascending trend as a correction. The quotations are heading for 38.2% (236.80) and 61.8% (265.40) Fibo. The support is at the minimum of 190.41.
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.
