BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD has already been corrected to the upside by 50.0%. The next possible targets are the retracements of 61.8% and 76.0% at 7000.00 and 7295.00 respectively. However, if the price starts a new descending impulse, the first target will be the low at 5750.00. After breaking it, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 5352.00 and 5110.00 respectively.
In the H1 chart, the pair is starting a new descending correction after the divergence. The targets are the retracements of 38.2%, 50.0%, 61.8%, and 76.0% at 6387.50, 6265.50, 6143.50, and 5997.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is being corrected upwards and has already reached the retracement of 38.2%. The next upside targets are the retracements of 50.0% and 61.8% at 516.00 and 543.00 respectively. However, if the instrument breaks the low at 404.21, it may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 372.00 and 353.00 respectively.
In the H1 chart, ETHUSD is being corrected downwards to reach the retracements of 50.0%, 61.8%, and 76.0% at 445.25, 435.45, and 423.50 respectively.
