Fibonacci Retracements Analysis 03.05.2019 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, after reaching the retracement of 38.2%, BTCUSD is trading upwards. However, the pair may yet resume falling toward the retracements of 50.0%, 61.8%, and 76.0% at 4753.00, 4538.00, and 4286.00 respectively. But if the price breaks the high at 5643.80, the instrument may grow to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 5918.00 and 6085.00 respectively.
In the H1 chart, the uptrend has reached the retracement of 76.0%. At the same time, there is a divergence on MACD, which may indicate a new pullback towards the short-term correctional retracement of 50.0% at 5284.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the divergence made ETHUSD start a new correctional downtrend, which may break the low at 146.70 and then continue falling. The downside target is the retracement of 50.0% at 134.07.
In the H1 chart, ETHUSD is being corrected upwards and has already reached the retracement of 50.0%. The next upside targets may be the retracements of 61.8% and 76.0% at 165.34 and 169.66 respectively.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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