BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD is trading upwards; after the correction reached the retracement of 38.2%, the pair has started moving sideways. After completing this sideways movement, the price may trade towards the retracements of 50.0% and 61.8%. In case the pair breaks the low at 6120.30, the instrument may fall to reach the retracement of 261.8% at 5860.00.
The H1 chart shows the sideways correction, which has already reached the retracement of 38.2%. The next target may be the retracement of 50.0%.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the convergence made ETHUSD start a new pullback, which has already reached the retracement of 23.6%. The next upside target is the retracement of 38.2%. After that, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8%.
In the H1 chart, ETHUSD is being corrected downwards to reach the retracements of 50.0% and 61.8%.
