BTC USD, “Bitcoin vs US Dollar”
As we can see at the H4 chart, after getting to the post-correctional extension area close to the retracement of 261.8%, the BTC/USD pair continues reaching new all-time highs. Right now, the price is starting a short-term correction. The next upside target may be the retracement 423.6%.
At the H1 chart, the pair has been corrected to the downside by 38.2%. The next target of this descending correction may be the retracement of 50.0% at 13018.64. After reaching it, the price may resume growing. After breaking the current high, this new ascending impulse may continue moving towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 18656.49 and 19815.08 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the daily chart, after the divergence, the ETH/USD pair is starting a new correction or even making a reverse. The price has already reached the retracement of 23.6%. The next downside targets may be the retracement of 38.2% and 50.0% at 325.75 and 266.88.
More detailed structure of the current correction is shown at the H4 chart. The short-term range for the pair is between 459.55 and 366.85 respectively.
RoboForex Analytical Department