Fibonacci Retracements Analysis 05.01.2018 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTC USD, “Bitcoin vs US Dollar”

As we can see at the H4 chart, the BTC/USD pair is testing the upside border of the triangle consolidation range. After the price breaks the resistance level, the closest targets of this movement may be the retracements of 61.8% and 76.0% at 16100.00 and 17356.00 respectively. If the pair breaks the high at 19474.00, the instrument may grow towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 22825.00 and 24900.00 respectively.

BTCUSD1

At the H1 chart, the pair is forming the ascending impulse towards 16100.00 and 17351.00.

BTCUSD2


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ETH USD, “Ethereum vs. US Dollar”

As we can see at the daily chart, the ETH/USD pair has broken the high and started moving towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1003.00 and 1088.00 respectively. Also, one should pay attention to the divergence, which may indicate a possible reverse after the price reaches its upside targets.

ETCUSD1

At the H1 chart, the situation is similar and confirms the scenario described above.

ETCUSD2

 

RoboForex Analytical Department

Article By RoboForex.com

Attention!
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.