Article By RoboForex.com


BTCUSD, “Bitcoin vs US Dollar”


As we can see in the H4 chart, BTCUSD has quickly formed the descending impulse to correct the previous uptrend by 76.0%. The next possible downside target is the low at 5890.00.


BTCUSD1

Risk Warning: the result of previous trading operations do not guarantee the same results in the future<br>


In the H1 chart, after finishing the descending impulse, the pair started a new rising correction, which has already reached the retracement of 23.6% and may continue trading towards the retracements of 38.2% and 50.0% at 6692.00 and 6829.00 respectively. The support level is the low at 6250.00.


BTCUSD1

Risk Warning: the result of previous trading operations do not guarantee the same results in the future<br>


-


ETHUSD, “Ethereum vs. US Dollar”


As we can see in the H4 chart, the downtrend continues. After breaking the support level at 250.59, ETHUSD has reached the post-correctional extension area between the retracements of 138.2% and 161.8% at 223.70 and 206.95 respectively. At the same time, one can see the convergence being formed.


ETHUSD1

Risk Warning: the result of previous trading operations do not guarantee the same results in the future<br>


In the H1 chart, the pair is being corrected upwards. After reaching the retracement of 23.6%, the instrument may continue trading to the upside. The possible targets may be the retracements of 38.2% and 50.0% at 240.50 and 250.59 respectively. The support level is the low at 206.95.


ETHUSD2

Risk Warning: the result of previous trading operations do not guarantee the same results in the future<br>


Click to here read the full article...