BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD is forming a new correction to the upside, which has already reached the retracement of 38.2%. The next possible targets of this ascending correction are the retracements of 50.0% and 61.8% at 7090.00 and 7493.00 respectively. The support level is the low at 5890.00.
In the H1 chart, the pair is finishing the descending correction and may start a new rising impulse. After breaking the high at 7125.60, the instrument may continue trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 7261.00 and 7346.00 respectively.
ETHUSD, “Ethereum vs. US Dollar”
As we can see in the H4 chart, ETHUSD is still being corrected upwards and has already reached the retracement of 23.6%. The next upside targets are the retracements of 38.2% and 50.0% at 351.60 and 382.50 respectively. The support level is the low at 250.60.
In the H1 chart, the pair is forming a new ascending impulse. After breaking the high at 297.68, the instrument may continue trading upwards. The possible targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 307.60 and 314.00 respectively.
