Fibonacci Retracements Analysis 09.02.2018 (BITCOIN, ETHEREUM)

February 9, 2018

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, the convergence made BTCUSD reverse and start a new ascending correction, which has already reached the retracement of 23.6%. In the short-term, the price may continue the correction towards the retracements of 38.2%, 50.0%, and 61.8% at 10270.00, 11620.00, and 12940.00 respectively. However, if the pair completes the correction soon and breaks the low at 5980.00, the instrument may continue falling to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 5000.00 and 4364.00 respectively.

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

In the H1 chart, the pair is trading upwards to reach 10270.00.


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BTCUSD2Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the H4 chart, ETHUSD is forming a new ascending correction after the convergence. By now, the correction has already reached the retracement of 38.2%. The next targets may be the retracements of 50.0% and 61.8% at 914.00 and 998.00 respectively. However, after breaking the low at 570.00, the price may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 465.00 and 396.90 respectively.

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

In the H1 chart, the pair is trading towards 914.00 and 998.00.

ETHUSD2Risk Warning: the results 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.