BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the convergence made BTCUSD reverse and start a new correctional uptrend, which has already reached the retracement of 38.2%. The next upside targets may be retracements of 50.0% and 61.8% at 9062.00 and 9671.00 respectively. The support level is at 7680.00.
The H1 chart shows more detailed structure of the current movement. The uptrend is moving to reach 9062.00.
ETHUSD, “Ethereum vs. US Dollar”
In the H4 chart, the convergence made ETHUSD reverse and start a new ascending correction, which has almost reached the retracement of 38.2%. After breaking this level, the instrument may continue growing towards the retracements of 50.0% and 61.8% at 668.10 and 740.80 respectively. The support level is at 504.60.
In the H1 chart, the uptrend is moving towards 667.66.
RoboForex Analytical Department
