Article By RoboForex.com
BTC USD, “Bitcoin vs US Dollar”
As we can see at the H4 chart, after getting to the post-correctional extension area close to the retracement of 261.8%, the BTC/USD pair continues reaching new all-time highs. Right now, the price is starting a short-term correction. The next upside target may be the retracement 423.6%.
At the H1 chart, the pair has been corrected to the downside by 38.2%. The next target of this descending correction may be the retracement of 50.0% at 13018.64. After reaching it, the price may resume growing. After breaking the current high, this new ascending impulse may continue moving towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 18656.49 and 19815.08 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the daily chart, after the divergence, the ETH/USD pair is starting a new correction or even making a reverse. The price has already reached the retracement of 23.6%. The next downside targets may be the retracement of 38.2% and 50.0% at 325.75 and 266.88.
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More detailed structure of the current correction is shown at the H4 chart. The short-term range for the pair is between 459.55 and 366.85 respectively.
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.
