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Fibonacci Retracements Analysis 12.04.2019 (BITCOIN, ETHEREUM)

12 april 2019 - Fx4News

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, BTCUSD reached the retracement of 61.8% and then there was a divergence that made the pair reverse and start a new decline, which has already reached the retracement of 23.6%. The next downside target may be the retracements of 38.2%, 50.0%, and 61.8% at 4850.00, 4657.00, and 4470.00 respectively. The resistance is the high at 5459.50. If the price breaks it, the instrument may resume growing towards the mid-term retracement of 76.0% at 5918.00.

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

The H1 chart shows more detailed structure of the current movement.

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

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, the correctional uptrend has almost reached the retracements of 76.0%. At the same time, there is a divergence on MACD, which may indicate the downtrend. The downtrend has reached the retracement of 23.6% and its next targets may be at 146.60 and 134.00.

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

In the H1 chart, ETHUSD is testing the retracement of 23.6% and may continue moving downwards.

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

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