Article By RoboForex.com
Bitcoin
On H4 the currency is completing a short-term pullback and starting a new wave of decline. If the quotations manage to break through the local minimum 9098.90, further decline may be aimed at 50.0% (8600.00) and 61.8% (7370.00) Fibo. The resistance is at 23.6% (11380.00).
On H1 we can see that after a convergence the market is trying to develop a wave of growth towards 50.0% (11142.00) Fibo. However, the main trend is still descending.
Эфириум (Ethereum)
On H4 the ETH demonstrates a correction period upon reaching 61.8% Fibo. The correcting wave of growth failed to reach 38.2% (239.40) Fibo However, the next wave of growth may do it and rise to 50.0% (254.50). Upon completing the correction a breakaway of the minimum and a decline to 76.0% (163.75) may follow.
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On H1 we may see that, after a convergence, an impulse of growth has formed, which may develop into an uptrend to the target levels.
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.