Fibonacci Retracements Analysis 22.06.2018 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD is trading upwards; after the correction reached the retracement of 38.2%, the pair has started moving sideways. After completing this sideways movement, the price may trade towards the retracements of 50.0% and 61.8%. In case the pair breaks the low at 6120.30, the instrument may fall to reach the retracement of 261.8% at 5860.00.
The H1 chart shows the sideways correction, which has already reached the retracement of 38.2%. The next target may be the retracement of 50.0%.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the convergence made ETHUSD start a new pullback, which has already reached the retracement of 23.6%. The next upside target is the retracement of 38.2%. After that, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8%.
In the H1 chart, ETHUSD is being corrected downwards to reach the retracements of 50.0% and 61.8%.
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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