Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the daily chart, the correctional Triangle continues close to 38.2% fibo. If the price breaks the current resistance level and 23.6% fibo at 11355.00, BTCUSD will continue growing towards the high at 13857.20. At the same time, MACD lines are heading downwards, which means that the decline may yet continue towards 50.0%, 61.8%, and 76.0% fibo at 8580.00, 7350.00, and 5860.00 respectively.
In the H4 chart, the pair is moving to the upside after the correction and has already reached 50.0% fibo. In the future, the ascending impulse may continue towards 61.8% and 76.0% fibo at 10441.00 and 10627.50 respectively. The key upside target is the local high at 10943.60. The support is the low at 9633.90.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the daily chart, the convergence made the pair start a new correctional uptrend, which has already reached 38.2% fibo. In the future, the correction may continue towards 50.0% and 61.8% fibo at 240.70 and 259.00 respectively. After breaking 23.6% fibo at 199.80, the instrument may plummet to reach 163.20.
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.
The H4 chart shows more detailed structure of the current correction. By now, the pair has already reached 38.2% fibo. Later, the price may continue falling towards 23.6% fibo.
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.
