Fibonacci Retracements Analysis 06.07.2018 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD has already been corrected to the upside by 50.0%. The next possible targets are the retracements of 61.8% and 76.0% at 7000.00 and 7295.00 respectively. However, if the price starts a new descending impulse, the first target will be the low at 5750.00. After breaking it, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 5352.00 and 5110.00 respectively.
In the H1 chart, the pair is starting a new descending correction after the divergence. The targets are the retracements of 38.2%, 50.0%, 61.8%, and 76.0% at 6387.50, 6265.50, 6143.50, and 5997.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is being corrected upwards and has already reached the retracement of 38.2%. The next upside targets are the retracements of 50.0% and 61.8% at 516.00 and 543.00 respectively. However, if the instrument breaks the low at 404.21, it may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 372.00 and 353.00 respectively.
In the H1 chart, ETHUSD is being corrected downwards to reach the retracements of 50.0%, 61.8%, and 76.0% at 445.25, 435.45, and 423.50 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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