Fibonacci Retracements Analysis 26.07.2019 (Bitcoin, Ethereum)
Bitcoin
On H4 the currency is completing a short-term pullback and starting a new wave of decline. If the quotations manage to break through the local minimum 9098.90, further decline may be aimed at 50.0% (8600.00) and 61.8% (7370.00) Fibo. The resistance is at 23.6% (11380.00).
On H1 we can see that after a convergence the market is trying to develop a wave of growth towards 50.0% (11142.00) Fibo. However, the main trend is still descending.
Эфириум (Ethereum)
On H4 the ETH demonstrates a correction period upon reaching 61.8% Fibo. The correcting wave of growth failed to reach 38.2% (239.40) Fibo However, the next wave of growth may do it and rise to 50.0% (254.50). Upon completing the correction a breakaway of the minimum and a decline to 76.0% (163.75) may follow.
On H1 we may see that, after a convergence, an impulse of growth has formed, which may develop into an uptrend to the target levels.
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