Fibonacci Retracements Analysis 17.11.2017 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTC USD, “Bitcoin vs US Dollar”

As we can see at the H4 chart, after being corrected to the downside very quickly, the BTC/USD pair has broken its previous highs and reached new ones. The next upside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 8774.76 and 9313.05 respectively.

BTCUSD1

At the H1 chart, the pair is being corrected to the downside with the target at 38.2%, 50.0%, and 61.8% at 7076.06, 6776.85, and 6490.11 respectively

BTCUSD2


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ETH USD, “Ethereum vs. US Dollar”

At the H4 chart, the uptrend continues, although the mid-term tendency is still a sideways range in the form of the Triangle. After breaking the high at 353.94, the ETH/USD pair may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 384.45 and 403.47 respectively.

ETHUSD1

As we can see at the H1 chart, the pair is being corrected to the downside. The target are the retracements of 38.2%, 50.0%, and 61.8% 391.36, 313.10, and 306.83 respectively.

ETHUSD2

 

RoboForex Analytical Department

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.