Fibonacci Retracements Analysis 21.06.2019 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the ascending tendency continues. After breaking its previous high, BTCUSD has moved into the post-correctional extension area between 138.2% and 161.8% fibo at 9720.00 and 10110.00 respectively. The next upside target may be mid-term 50.0% fibo at 10170.00. The key support is at 7435.10. At the same time, there is a divergence on MACD, which may indicate a trend reverse.
The H1 chart shows more detailed structure of the current uptrend.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is about to reach its significant high at 288.82. If the price breaks it, the instrument may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 313.00 and 327.50 respectively. The support is the low at 226.56.
In the H1 chart, the pair is getting closer to the high at 288.82. At the same time, there is a divergence on MACD.
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