Fibonacci Retracements Analysis 05.07.2019 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, after falling towards 38.2% fibo, BTCUSD has returned to 23.6% fibo. In this case, the price is expected to for a new wave to the downside to reach 50.0% and 61.8% fibo at 8605.00 and 7358.00 respectively. However, one shouldn’t exclude a possibility of a new growth towards the resistance at 13857.20.
In the H1 chart, the previous downtrend has been corrected by 50.0%. There is a chance that the price may continue growing towards 61.8% and 76/0% fibo at 12259.00 and 12850.00 respectively, but is chance is rather slight. The short-term downside target is the low at 9666.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the daily chart, ETHUSD is being corrected in the form of Triangle pattern to reach 38.2% fibo at 262.78 or even 50.0% fibo at 231.73. The resistance is the high at 363.18.
In the H1 chart, the pair is stuck between the resistance and the support at 23.6% (301.12) and 38.2% (262.78) respectively.
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