Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, after testing the retracement of 50.0% for the second time, BTCUSD is still being corrected. The target of this ascending impulse may be the retracement of 61.8% at 6905.00. If the instrument breaks the current low at 6091.10, the price may trade to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 5822.00 and 5656.00 respectively.
In the H1 chart, the pair is being corrected downwards and has already reached the retracement of 61.8%. The next target may be the retracement of 76.0% at 6262.00. The resistance level is the high at 6801.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, after finishing the ascending impulse, ETHUSD started a new pullback to the downside. If the instrument breaks the low at 184.38, the price may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 171.00 and 162.80 respectively. The resistance level is at 219.56.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
In the H1 chart, the pair is being corrected and heading towards the retracement of 76.0% at 192.80.
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.
