Fibonacci Retracements Analysis 21.12.2018 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, there was a convergence on MACD, which made BTCUSD start a new ascending correction, which has already reached the retracement of 23.6. The next possible targets may be the retracements of 38.2% and 50.0% at 4427.00 and 4835.00 respectively. The support level is at 3121.90.
In the H1 chart, there was a divergence on MACD that made the pair complete the uptrend and start a new descending impulse, which has already reached the retracement of 23.6%. The next downside targets may be the retracements of 38.2% and 50.0% at 3770.00 and 3645.00 respectively. The local resistance is at 4172.40.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the convergence made ETHUSD start a new rising correction, which has already reached the retracement of 23.6%. The next downside targets may be the retracements of 38.2% and 50.0% at 135.40 and 151.80 respectively. The support level is at 80.86.
In the H1 chart, there divergence made the start a new descending correction, which has already reached the retracement of 23.6%. The next downside targets may be the retracements of 38.2% and 50.0% at 104.40 and 99.90 respectively. The local resistance is at 118.90.
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