Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the divergence made BTCUSD reverse and start a new descending impulse, which has already reached the retracement of 38.2%. The next downside targets are the retracements of 50.0%, 61.8%, and 76.0% at 8880.00, 8820.00, and 7375.00 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair is trading downwards. However, the price may start a short-term correction and return to the retracement of 23.6%.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
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ETHUSD, “Ethereum vs. US Dollar”
In the H4 chart, after finishing the ascending correction, ETHUSD started moving downwards and has almost reached the retracement of 50.0%. The next downside targets may be the retracements of 61.8% (725.80), 76.0% (669.10), and the low at 570.40.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the convergence made the pair reverse and start a new ascending impulse towards the retracements of 38.2% and 50.0% at 850.40 and 871.60 respectively. If the price breaks the local low at 785.18, the instrument may continue its mid-term downtrend.
Risk Warning: the results of previous trading operations do not guarantee the same results in the 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.
