BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD is forming a new ascending correction inside the mid-term downtrend; it has tested the retracement of 23.6% at 3990.00 once again. After breaking this level, the instrument may BTCUSD may continue growing towards the retracement of 38.2% at 4525.00. The key support is the low at 3121.90.
In the H1 chart, the divergence mad the pair reverse and start a new pullback. The correctional targets are the retracements of 38.2, 50.0%, and 61.8% at 3813.00, 37609.00, and 3705.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the uptrend slowed down at the retracement of 76.0%. After completing the correction, ETHUSD may start a new rising impulse to reach the high at 160.44. The support level is the retracement of 50.0% at 130.20.
The H1 chart shows more detailed structure of the current correction. The targets of the correction are the retracements of 38.2% and 50.0% at 136.30 and 132.25 respectively.
