Fibonacci Retracements Analysis 22.12.2017 (BITCOIN, ETHEREUM)

December 22, 2017

Article By RoboForex.com

BTC USD, “Bitcoin vs US Dollar”

As we can see at the H4 chart, the divergence made the BTC/USD pair reverse to the downside. By now, the price has already reached the retracement of 38.2%. The next targets may be the retracements of 50.0% and 61.8% at 11234.00 and 9277.00 respectively.

BTCUSD1

At the H1 chart, the pair continues falling steadily


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BTCUSD2

 

ETH USD, “Ethereum vs. US Dollar”

As we can see at the daily chart, the divergence made the ETH/USD pair start a new correction, which has already reached the retracement of 50.0%. The next downside target may be the retracement of 61.8% at 570.36. After that, the instrument may start a new ascending impulse.

ETHUSD1

At the H1 chart, the situation is similar and confirms the scenario described above. The resistance level is near the high at 860.99.

ETHUSD2

 

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.