Article By RoboForex.com
BTC USD, “Bitcoin vs US Dollar”
At the H4 chart, the downtrend continues. The previous descending impulse has been corrected by 50.0%. The target of the current descending impulse is the low at 9228.60. After breaking this level, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 7781.50 and 6881.00 respectively.
At the H1 chart, the BTC/USD pair is about to complete the correction to the upside and start a new descending impulse. The targets are inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 9228.60 and 8774.00 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the H4 chart, the ETH/USD pair is trying to form a new descending impulse inside the correction. The main target is at 768.10. After breaking this level, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 622.50 and 532.90 respectively.
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At the H1 chart, the pair completed the correction upwards and right now is starting a new descending impulse. The local downside target is the low at 903.31. After that, the instrument may continue falling to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 828.52 and 782.73 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.
