Fibonacci Retracements Analysis 15.02.2019 (BITCOIN, ETHEREUM)

February 15, 2019

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, the short-term correctional downtrend continues. After breaking the resistance at 3618.00, BTCUSD may start a new rising impulse towards the high at 3704.8 or even the mid-term retracement of 50.0% at 3786.00.

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

In the H1 chart, the pair has been corrected downwards by 38.2%. In the future, the decline may continue towards the retracements of 50.0% and 61.8% at 352100 and 3478.00 respectively. At the same time, there is a convergence on MACD, which may indicate the slowdown in the downtrend.


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Bitcoin
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 reaching the retracement of 38.2%, ETHUSD is starting a new pullback towards the retracement of 23.6% at 114.35. The next ascending wave will be heading towards the retracements of 50.0% and 61.8% at 130.30 and 137.40 respectively.

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

In the H1 chart, the pair is trading between the retracements of 23.6% and 38.2%.

Ethereum
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.