Fibonacci Analysis for Bitcoin and Ethereum: July 27, 2018
Bitcoin
On H4, Bitcoin continues to form a correction uptrend. This correction has reached 38.2% Fibo and may go ahead to reach 50.0% (8.764.50) and 61.8 (9.472.00). The low at 5750.00 is acting as a support.
On H1, for Bitcoin we can see that after the divergence has been formed the market is entering the local correction stage. Once 23.6% Fibo is reached, the price may fall to 38.2% (7.567.00) and 50.0% (7.283.00). The resistance is at the maximum of 8484.10.
Ethereum
On H4, for Ethereum we can see the continued correction compared with the previous downtrend. The correction has reached 23.6% according to Fibonacci. The further uptrend targets may lie at 38.2% (567.00) and 50.0% (617.00). In case the low at 404.21 gets broken out, the price may go down to reach the post correctional extension at 138.2%-161.8% Fibo (362.20-336.10).
On H1, for Ethereum there is an uptrend after the correction descent to 76.0% according to Fibonacci. The main target of the current uptrend is 515.33.
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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