BTCUSD, “Bitcoin vs US Dollar”
As we can see in the daily chart, the pair is no longer trading inside the correctional Triangle; it has broken 50.0% fibo and right now is moving towards 61.8% and 76.0% fibo at 7350.00 and 5860.00 respectively. If the price breaks the current resistance level (38.2% fibo at 9840.00), BTCUSD will continue growing to reach the high at 13857.20.
In the H4 chart, the pair is moving to the downside to reach 61.8% fibo at 7350.00. However, after that, the price is expected to start a new pullback towards 50.0% fibo.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the convergence made the pair complete the correctional uptrend at 38.2% fibo and start a new descending impulse. By now, the price has already updated the previous low and is currently moving towards the post-correctional extension area between 138.2% and 161.8% fibo at 140.40 and 125.85 respectively.
The H1 chart shows more detailed structure of the current decline and the correction. By now, the pair has already reached 23.6% fibo. Later, the price may continue growing towards 38.2% and 50.0% fibo at 179.80 and 188.40 respectively. The support is the low at 152.28.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.