Fibonacci Retracements Analysis 26.10.2018 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD is still moving sideways around the retracement of 61.8%. The resistance level is the retracement of 50.0% at 6475.00, while the support level is the retracement of 76.0% at 6307.00. If the instrument breaks the support level, the price may trade downwards to reach the low at 6151.00.
The H1 chart shows more detailed structure of the current sideways movement.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is still being corrected. The support level is the retracement of 76.0% at 196.50. If the instrument breaks this level, the price may continue falling towards the low at 189.24. The resistance level is the retracement of 38.2% at 207.80 respectively. if the pair breaks it, the price may grow towards the high at 219.56.
In the H1 chart, the pair is trading sideways.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.