BTC USD, “Bitcoin vs US Dollar”
At the H4 chart, the downtrend continues. The previous descending impulse has been corrected by 50.0%. The target of the current descending impulse is the low at 9228.60. After breaking this level, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 7781.50 and 6881.00 respectively.
At the H1 chart, the BTC/USD pair is about to complete the correction to the upside and start a new descending impulse. The targets are inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 9228.60 and 8774.00 respectively.
ETH USD, “Ethereum vs. US Dollar”
As we can see at the H4 chart, the ETH/USD pair is trying to form a new descending impulse inside the correction. The main target is at 768.10. After breaking this level, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 622.50 and 532.90 respectively.
At the H1 chart, the pair completed the correction upwards and right now is starting a new descending impulse. The local downside target is the low at 903.31. After that, the instrument may continue falling to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 828.52 and 782.73 respectively.
RoboForex Analytical Department