Fibonacci Retracements Analysis 28.12.2018 (BITCOIN, ETHEREUM)
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the correctional uptrend has failed to reach the retracement of 38.2% at 4427.00; there was a divergence on MACD and it made BTCUSD start a new decline, which may be considered as an internal correction. After finishing it, the price may form another ascending wave towards the retracement of 50.0% at 4835.00. At the same time, the current descending impulse may be one more wave inside the long-term downtrend. If the pair breaks the low at 3121.90, the instrument may fall towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 2700.00 and 2435.00 respectively.
In the H1 chart, the pair is falling towards the retracements of 61.8% and 76.0% at 3547.00 and 3390.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, after being corrected to the upside by 50.0%, ETHUSD has started a new descending movement. In case this movement transforms into a stable downtrend, the price is expected to break the low at 80.86 and then fall to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 51.00 and 32.38 respectively.
In the H1 chart, the instrument is falling towards the retracements of 61.8% and 76.0% at 110.88 and 99.83 respectively.
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