Fibonacci Retracements Analysis 22.02.2019 (BITCOIN, ETHEREUM)

February 22, 2019

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, BTCUSD is forming a new ascending correction inside the mid-term downtrend; it has tested the retracement of 23.6% at 3990.00 once again. After breaking this level, the instrument may BTCUSD may continue growing towards the retracement of 38.2% at 4525.00. The key support is the low at 3121.90.

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

In the H1 chart, the divergence mad the pair reverse and start a new pullback. The correctional targets are the retracements of 38.2, 50.0%, and 61.8% at 3813.00, 37609.00, and 3705.00 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, the uptrend slowed down at the retracement of 76.0%. After completing the correction, ETHUSD may start a new rising impulse to reach the high at 160.44. The support level is the retracement of 50.0% at 130.20.

ETHUSD1
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 correction. The targets of the correction are the retracements of 38.2% and 50.0% at 136.30 and 132.25 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.