Fibonacci Retracements Analysis 12.04.2019 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD reached the retracement of 61.8% and then there was a divergence that made the pair reverse and start a new decline, which has already reached the retracement of 23.6%. The next downside target may be the retracements of 38.2%, 50.0%, and 61.8% at 4850.00, 4657.00, and 4470.00 respectively. The resistance is the high at 5459.50. If the price breaks it, the instrument may resume growing towards the mid-term retracement of 76.0% at 5918.00.
The H1 chart shows more detailed structure of the current movement.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the correctional uptrend has almost reached the retracements of 76.0%. At the same time, there is a divergence on MACD, which may indicate the downtrend. The downtrend has reached the retracement of 23.6% and its next targets may be at 146.60 and 134.00.
In the H1 chart, ETHUSD is testing the retracement of 23.6% and may continue moving downwards.
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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