Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the correctional uptrend has failed to reach the retracement of 38.2% at 4427.00; there was a divergence on MACD and it made BTCUSD start a new decline, which may be considered as an internal correction. After finishing it, the price may form another ascending wave towards the retracement of 50.0% at 4835.00. At the same time, the current descending impulse may be one more wave inside the long-term downtrend. If the pair breaks the low at 3121.90, the instrument may fall towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 2700.00 and 2435.00 respectively.
In the H1 chart, the pair is falling towards the retracements of 61.8% and 76.0% at 3547.00 and 3390.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, after being corrected to the upside by 50.0%, ETHUSD has started a new descending movement. In case this movement transforms into a stable downtrend, the price is expected to break the low at 80.86 and then fall to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 51.00 and 32.38 respectively.
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In the H1 chart, the instrument is falling towards the retracements of 61.8% and 76.0% at 110.88 and 99.83 respectively.
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.
