BTC USD, “Bitcoin vs US Dollar”
As we can see at the H4 chart, after reaching all-time highs, the BTC/USD pair has been corrected to the downside by 38.2%. The next targets of the correction may be the retracements of 50.0% and 61.8% at 8486.61 and 7787.85 respectively. The high at the main resistance level are at 11427.00.
At the H1 chart, the pair is being corrected to the upside and has already reached the retracement of 50.0%. The next targets of the correction may be retracements of 61.8% and 76.0% at 10415.23 and 10783.84 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the H4 chart, after reaching its targets, the ETH/USD pair has been corrected by 50.0%. The next downside target may be the retracement of 61.8% at 367.90. However, if we suppose that the correction is already complete, then the price is expected to break the high at 516.90 and then reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 567.18 and 599.81 respectively.
At the H1 chart, the pair is being corrected towards the retracements of 50.0%, 61.8%, and 76.0% at 451.58, 467.13, and 485.79 respectively.
RoboForex Analytical Department