Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the convergence made BTCUSD reverse and start a new correction to the upside, which has already reached the retracement of 23.6%. The next possible targets may be the retracements of 38.2% and 50.0% at 4636.00 and 5006.00 respectively. The support level is the low at 3460.10.
In the H1 chart, the divergence made the pair start a new correction, which has already reached the retracement of 23.6%. In case it continues, the targets will be the retracements of 38.2% and 50.0% at 4065.40 and 3960.00 respectively. If the price breaks the local high at 4406.50, the instrument will continue growing.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the convergence made ETHUSD start a new correctional uptrend, which has failed to reach the retracement of 23.6%, but may reach in the nearest future. The next possible targets may be the retracements of 38.2% and 50.0% at 145.62 and 160.50 respectively. The support is the low at 98.04.
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As we can see in the H1 chart, the pair has been corrected to the downside by 38.2%. The next possible targets may be the retracements of 50.0% and 61.8% at 112.28 and 109.20 respectively. If the price breaks the local high at 125.51, the instrument will continue moving upwards.
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.
