BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, after reaching the retracement of 38.2%, BTCUSD is trading upwards. However, the pair may yet resume falling toward the retracements of 50.0%, 61.8%, and 76.0% at 4753.00, 4538.00, and 4286.00 respectively. But if the price breaks the high at 5643.80, the instrument may grow to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 5918.00 and 6085.00 respectively.
In the H1 chart, the uptrend has reached the retracement of 76.0%. At the same time, there is a divergence on MACD, which may indicate a new pullback towards the short-term correctional retracement of 50.0% at 5284.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the divergence made ETHUSD start a new correctional downtrend, which may break the low at 146.70 and then continue falling. The downside target is the retracement of 50.0% at 134.07.
In the H1 chart, ETHUSD is being corrected upwards and has already reached the retracement of 50.0%. The next upside targets may be the retracements of 61.8% and 76.0% at 165.34 and 169.66 respectively.
