BTCUSD, “Bitcoin vs US Dollar”
As we can see in the daily chart, the pair is no longer trading inside the correctional Triangle; it has broken 50.0% fibo and right now is moving towards 61.8% and 76.0% fibo at 7350.00 and 5860.00 respectively. If the price breaks the current resistance level (38.2% fibo at 9840.00), BTCUSD will continue growing to reach the high at 13857.20.
In the H4 chart, the pair is moving to the downside to reach 61.8% fibo at 7350.00. However, after that, the price is expected to start a new pullback towards 50.0% fibo.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, the convergence made the pair complete the correctional uptrend at 38.2% fibo and start a new descending impulse. By now, the price has already updated the previous low and is currently moving towards the post-correctional extension area between 138.2% and 161.8% fibo at 140.40 and 125.85 respectively.
The H1 chart shows more detailed structure of the current decline and the correction. By now, the pair has already reached 23.6% fibo. Later, the price may continue growing towards 38.2% and 50.0% fibo at 179.80 and 188.40 respectively. The support is the low at 152.28.
