Article By RoboForex.com


BTCUSD, “Bitcoin vs US Dollar”


As we can see in the H4 chart, BTCUSD has quickly formed the descending impulse and started a new correction to the upside. However, the target of the long-term downtrend is 5890.00. If the price breaks this level, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 5316.20 and 4962.20 respectively.


BTCUSD1

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


In the H1 chart, the convergence made the pair start a new rising correction, which has almost reached the retracement of 38.2% at 6598.40 and may continue trading towards the retracement of 50.0% at 6753.40. The support level is the low at 6102.20.


BTCUSD2

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


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ETHUSD, “Ethereum vs. US Dollar”


As we can see in the H4 chart, the convergence made ETHUSD start a new uptrend, which has almost reached the retracement of 38.2%. The next upside targets may be the retracements of 50.0%, 61.8%, and 76.0% at 234.40, 250.60, and 269.70 respectively. The support level is the low at 166.85.


ETHUSD1

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


The H1 chart shows the more detailed structure of the current uptrend.


ETHUSD2

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


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