Fibonacci Retracements Analysis 19.10.2018 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, after testing the retracement of 50.0% for the second time, BTCUSD is still being corrected. The target of this ascending impulse may be the retracement of 61.8% at 6905.00. If the instrument breaks the current low at 6091.10, the price may trade to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 5822.00 and 5656.00 respectively.
In the H1 chart, the pair is being corrected downwards and has already reached the retracement of 61.8%. The next target may be the retracement of 76.0% at 6262.00. The resistance level is the high at 6801.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, after finishing the ascending impulse, ETHUSD started a new pullback to the downside. If the instrument breaks the low at 184.38, the price may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 171.00 and 162.80 respectively. The resistance level is at 219.56.
In the H1 chart, the pair is being corrected and heading towards the retracement of 76.0% at 192.80.
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