Fibonacci Retracements Analysis 30.11.2018 (BITCOIN, ETHEREUM)

November 30, 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 correction to the upside, which has already reached the retracement of 23.6%. The next possible targets may be the retracements of 38.2% and 50.0% at 4636.00 and 5006.00 respectively. The support level is the low at 3460.10.

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

In the H1 chart, the divergence made the pair start a new correction, which has already reached the retracement of 23.6%. In case it continues, the targets will be the retracements of 38.2% and 50.0% at 4065.40 and 3960.00 respectively. If the price breaks the local high at 4406.50, the instrument will continue growing.


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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”

As we can see in the H4 chart, the convergence made ETHUSD start a new correctional uptrend, which has failed to reach the retracement of 23.6%, but may reach in the nearest future. The next possible targets may be the retracements of 38.2% and 50.0% at 145.62 and 160.50 respectively. The support is the low at 98.04.

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

As we can see in the H1 chart, the pair has been corrected to the downside by 38.2%. The next possible targets may be the retracements of 50.0% and 61.8% at 112.28 and 109.20 respectively. If the price breaks the local high at 125.51, the instrument will continue moving upwards.

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

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.