Fibonacci Retracements Analysis 13.04.2018 (BITCOIN, ETHEREUM)

April 13, 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 correctional uptrend, which has already reached the retracement of 23.6%. The next upside targets may be retracements of 38.2%, 50.0%, and 61.8% at 8500.00, 9120.00, and 9748.00 respectively. The support level is the low at 6449.40.

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. The uptrend is moving to reach 8500.00 and 9120.00.


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

 

ETHUSD, “Ethereum vs. US Dollar”

In the H4 chart, the convergence made ETHUSD reverse and start a new ascending correction, which has almost reached the retracement of 23.6%. After breaking this level, the instrument may continue growing towards the retracements of 38.2% and 50.0% at 595.00 and 668.50 respectively. The support level is the low at 359.00.

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

In the H1 chart, the uptrend is moving towards 595.00.

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.