Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the short-term correctional downtrend continues. After breaking the resistance at 3618.00, BTCUSD may start a new rising impulse towards the high at 3704.8 or even the mid-term retracement of 50.0% at 3786.00.
In the H1 chart, the pair has been corrected downwards by 38.2%. In the future, the decline may continue towards the retracements of 50.0% and 61.8% at 352100 and 3478.00 respectively. At the same time, there is a convergence on MACD, which may indicate the slowdown in the downtrend.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, after reaching the retracement of 38.2%, ETHUSD is starting a new pullback towards the retracement of 23.6% at 114.35. The next ascending wave will be heading towards the retracements of 50.0% and 61.8% at 130.30 and 137.40 respectively.
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In the H1 chart, the pair is trading between the retracements of 23.6% and 38.2%.
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.
