Fibo Analysis for Bitcoin and Ether: 22/03/2019

March 22, 2019

Article By RoboForex.com

Bitcoin

On H4, the Bitcoin is forming an ascending trend after correcting. This uptrend has reached the 61.80% Fibo; the local pullback has sent the crypto to the support at $3,858, and the next ascending trend target lies at $4,188.40. In case this high gets broken out, the price is likely to go up to reach the extension of 138.20%-161.80% Fibo, or $4,393 to $4,519.

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

On H1, the Bitcoin has diverged and then reached 38.20%, and may head further down to 50% ($3,864) and 61.80% ($3,819). The resistance is at $4,058.20.


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

Ethereum

On H4, the Ether is approaching 50% Fibo, or $144.33. The next uptrend targets may lie at 61.80%, or $149.45, and 76%, or $155.58. If a downside move occurs, the price may hit the low at $122.57, and then 76% Fibo, or $115.95.

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

On H1, the Ether has formed a correction downtrend that reached 76.% Fibo. The local support is meanwhile at $128.20. If the resistance at $137.71 gets hit, the price will try to reach then the local high at $143.58.

ETHUSD2

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.