Fibonacci Retracements Analysis 11.05.2018 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, the divergence made BTCUSD complete the uptrend and start a new correction to the downside, which has already reached the retracement of 38.2% at 8605.60. The next downside targets may be the retracements of 50.0% and 61.8% at 8198.00 and 7779.50 respectively. The resistance level is the high at 9944.00.

BTCUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current movement.

BTCUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, the divergence made ETHUSD reverse and start a new descending correction, which has already reached the retracement of 23.6%. The next downside targets may be the retracements 38.2%, 50.0%, and 61.8% at 650.70, 595.00 and 540.90 respectively.

ETHUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is being corrected to the downside to reach the retracement of 38.2% at 650.70.

ETHUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

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.