Fibo Analysis for Bitcoin and Ether: July 20, 2018
Bitcoin
On H4, Bitcoin is continuing to form the correction uptrend. This correction reached 38.2% Fibo and may go ahead to reach 50.0, or $7,850, and 61.8%, or $8,340. The low at $5,750 acts as a support.
On H1, Bitcoin is correcting locally; once 23.6% Fibo is reached, the price may fall to 38.2% ($7,004), 50.0% ($6,830), and 61.8% ($6,650).
Ether
On H4, Ether is going down after reaching 23.6% Fibo. Currently, both the continuation of the uptrend and the pullback to the low followed by a breakout are possible. The uptrend targets may lie at 38.2% ($566.50) and 50.0% ($616.60). In case the low at $404.21 gets broken out, the price may go down to reach the post correctional extension at 138.2%-161.8% Fibo, or $362.20-$336.10.
On H1, Ether is experiencing downward correction, which reached 50.0% Fibo and may go ahead to reach 61.8, or $446.85, and 76.0%, or $431.15.
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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