Fibo Analysis for Bitcoin and Ether: 28.09.2018

28.09.2018

Bitcoin

On H4, Bitcoin is moving going up. The crypto is approaching the local high at $6,821.70. In case it gets broken out, the price may well reach the post correctional extension between 138.2%-161.8% Fibo, or $7,013.60-$7,132.00. The support is meanwhile at the low, i.e. $6,318.70.

BTCUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, Bitcoin is trying to reach 6,821.70, but is likely to start pulling back in the short term.

BTCUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Ethereum

On H4, Ether is trying to rise after the previous downtrend. The target may be at $254.14. In case it gets broken out, the price may well reach the post correctional extension between 138.2%-161.8% Fibo, or $273.63-$285.66. Conversely, if the support at $203.11 gets hit, the prices may go to the fractal levels of $191.68 and $166.85.

ETHUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, Ether is moving going up. The crypto is approaching to 61.8% Fibo ($234.60), with respect to the previous downtrend. The trend then may head towards 76%, or $241.90.

ETHUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.