BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD is steadily growing towards the long-term retracement of 38.2%. The previous correction was very quick, the same as the new rising impulse, which has already broken the high and reached the post-correctional extension area between the retracements of 138.2% and 161.8%. At the same time, there is a divergence on MACD, which may indicate a possible trend reverse. The support level is at 5643.80.
In the H1 chart, the uptrend is getting closer to reach the retracement of 38.2% at 6430.85. In the short-term, there price may start a pullback towards 6085.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is forming another rising wave to test the long-term retracement of 23.6%. The main scenario implies that the instrument may break the high at 187.16 and then continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 202.57 and 212.05 respectively. The support level is the local low at 146.70.
In the H1 chart, after finishing the short-term correction, ETHUSD is trading upwards. The closest target is the local low at 180.68. If the price breaks it, the instrument may continue growing to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 178.16 and 191.18 respectively. The local support level is at 163.50.
