BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, the divergence made BTCUSD reached start a new descending correction, which has already reached the retracement of 23.6%. The next downside target may be the retracements of 38.2% and 50.0% at 4848.20 and 4658.10 respectively. If the price breaks the high at 5459.50, the instrument may continue the mid-term ascending tendency.
In the H1 chart, there is a divergence on MACD and the pair is about to finish the short-term rising impulse. After that, the instrument may start a new decline towards the retracement of 23.6% at 5082.00.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the correctional downtrend has almost reached the retracement of 50.0%. After finishing this descending correction, the price may start a new rising impulse towards the high at 187.16.
In the H1 chart, ETHUSD is being corrected upwards and has already reached the retracement of 61.8%. The next target may be the retracement of 76.0% at 179.60. The support is at 165.50.
