Fibonacci Retracements Analysis 19.04.2019 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the divergence made BTCUSD reached start a new descending correction, which has already reached the retracement of 23.6%. The next downside target may be the retracements of 38.2% and 50.0% at 4848.20 and 4658.10 respectively. If the price breaks the high at 5459.50, the instrument may continue the mid-term ascending tendency.
In the H1 chart, there is a divergence on MACD and the pair is about to finish the short-term rising impulse. After that, the instrument may start a new decline towards the retracement of 23.6% at 5082.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the correctional downtrend has almost reached the retracement of 50.0%. After finishing this descending correction, the price may start a new rising impulse towards the high at 187.16.
In the H1 chart, ETHUSD is being corrected upwards and has already reached the retracement of 61.8%. The next target may be the retracement of 76.0% at 179.60. The support is at 165.50.
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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