Fibonacci Retracements Analysis 28.12.2018 (BITCOIN, ETHEREUM)

December 28, 2018

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, the correctional uptrend has failed to reach the retracement of 38.2% at 4427.00; there was a divergence on MACD and it made BTCUSD start a new decline, which may be considered as an internal correction. After finishing it, the price may form another ascending wave towards the retracement of 50.0% at 4835.00. At the same time, the current descending impulse may be one more wave inside the long-term downtrend. If the pair breaks the low at 3121.90, the instrument may fall towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 2700.00 and 2435.00 respectively.

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

In the H1 chart, the pair is falling towards the retracements of 61.8% and 76.0% at 3547.00 and 3390.00 respectively.


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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, after being corrected to the upside by 50.0%, ETHUSD has started a new descending movement. In case this movement transforms into a stable downtrend, the price is expected to break the low at 80.86 and then fall to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 51.00 and 32.38 respectively.

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

In the H1 chart, the instrument is falling towards the retracements of 61.8% and 76.0% at 110.88 and 99.83 respectively.

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.