BTC USD, “Bitcoin vs US Dollar”
As we can see at the H4 chart, the BTC/USD pair continues reaching new highs slowly but steadily. In addition to that, we can see the divergence, which may indicate a possible correction in the nearest future. However, the short-term scenario is still bullish. The targets of such uptrend may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 18442.25 and 19239.00 respectively.
At the H1 chart, the pair may start a new correction after reaching its upside targets. The targets of this possible correction are the retracements of 38.2%, 50.0%, and 61.8% at 15255.28, 14003.26, and 12789.17 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the daily chart, the ETH/USD pair is being corrected to the downside and has already reached the retracement of 38.2%. The next downside target may be the retracement of 50.0% at 572.31. The price may continue growing only after breaking the current high at 755.77. The next upside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 825.87 and 868.27 respectively.
At the H1 chart, the situation is similar and confirms the scenario described above.
RoboForex Analytical Department