BTC USD, “Bitcoin vs US Dollar”
At the daily chart, the BTC/USD pair is still being corrected. The current descending impulse has already reached the retracement of 61.8%. The next downside target is the retracement of 76.0% at 6915.00. The resistance level is at 13140.00.
As we can see at the H4 chart, the price is forming a short-term correction towards the resistance level. After breaking the low at 9211.10, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 8204.00 and 6642.00 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the H4 chart, the ETH/USD pair is being corrected to the downside and has already reached the retracement of 50.0%. The next correctional targets are the retracements of 61.8% and 76.0% at 666.20 and 493.80 respectively. The resistance level is at 1130.70.
At the H1 chart, the situation is opposite as the pair is being corrected upwards. The targets are the retracements of 50.0% and 61.8% at 1094.80 and 1170.50 respectively.
RoboForex Analytical Department