BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the short-term correctional downtrend continues. After breaking the resistance at 3618.00, BTCUSD may start a new rising impulse towards the high at 3704.8 or even the mid-term retracement of 50.0% at 3786.00.
In the H1 chart, the pair has been corrected downwards by 38.2%. In the future, the decline may continue towards the retracements of 50.0% and 61.8% at 352100 and 3478.00 respectively. At the same time, there is a convergence on MACD, which may indicate the slowdown in the downtrend.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, after reaching the retracement of 38.2%, ETHUSD is starting a new pullback towards the retracement of 23.6% at 114.35. The next ascending wave will be heading towards the retracements of 50.0% and 61.8% at 130.30 and 137.40 respectively.
In the H1 chart, the pair is trading between the retracements of 23.6% and 38.2%.
