BTCUSD, “Bitcoin vs US Dollar”
As we can see in the daily chart, there was a divergence on MACD, which made BTCUSD reverse at 13857.20 and start a new decline. This decline may be considered as a correction, which may be followed by a new rising wave. The current descending impulse has already broken 23.6% fibo and may continue falling towards 38.2%, 50.0%, and 61.8% fibo at 9837.00, 8590.00, and 7370.00 respectively. The resistance is the high at 13857.20.
The H4 chart shows more detailed structure of the current movement.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the daily chart, there was a divergence on MACD, which made ETHUSD start moving downwards. The resistance is the high at 363.18. The current decline is heading towards 38.2%, 50.0%, and 61.8% fibo at 262.65, 232.13, and 200.91 respectively.
In the H4 chart, the pair is getting back to 23.6% fibo 262.65.
