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Fibonacci Retracements Analysis 04.09.2020 (BTC, ETH)

BTCUSD, “Bitcoin vs US Dollar”

On H4, the Bitcoin demonstrates the development of a steep declining wave after a short-term pullback. The bearish wave reached 61.8% Fibo and may proceed to 76.0% (9690.00). The main goal of such a movement may be the fractal low of 8814.00. The resistance is still at the peak of 12479.50.

Fibonacci Retracements Analysis 04.09.2020 BTCUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the declining wave kept going down the Fibo levels gradually with short pullbacks. Currently, having reached 61.8% Fibo, the market is performing a pullback. Another goal of the decline is 76.0%; upon reaching this, a pullback may bring the quotations to 38.2%.

Fibonacci Retracements Analysis 04.09.2020 BTCUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

On H4, the market is developing a downtrend after an uptrend and a divergence. The declining wave broke away 38.2% and is testing it. The next goals of the decline are 50.0% (351.90), 61.8% (319.80), and 76.0% (281.35). The resistance is at the high of 488.68.

Fibonacci Retracements Analysis 04.09.2020 ETHEREUM_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the Ethereum, having reached 38.2% Fibo, is performing a short-term pullback. The next goal of the decline is 50.0% (351.90).

Fibonacci Retracements Analysis 04.09.2020 ETHUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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