Article By RoboForex.com
BTC USD, “Bitcoin vs US Dollar”
As we can see at the H4 chart, the BTC/USD pair is being corrected after the divergence. By now, the correction has already reached the retracement of 23.6% and may continue towards the retracements of 38.2% and 50.0% at 5091.15 and 4786.90 respectively. However, right now the price is moving close to the high at 6074.70 means that the descending correction may fail to continue. If the pair breaks the high, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 6350.00 and 6517.85 respectively.
At the H1 chart, the BTC/USD pair may continue the short-term correction towards the retracement of 50.0% at 5677.55. After completing the correction, the price may resume growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 6093.15 and 6145.70 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the H4 chart, the ETH/USD pair has been corrected to the downside by 50.0% and the new ascending pulse may transform into the new uptrend. If the price fixes above 313.40, it may continue growing towards the high at 353.94. After breaking it, the instrument may move upwards to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 385.20 and 404.53 respectively.
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At the H1 chart, the situation is quite similar. If the price breaks the local high, it may reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 320.30 and 325.40 respectively in the nearest future.
RoboForex Analytical Department
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.
