Fibonacci Retracements Analysis 08.03.2019 (BITCOIN, ETHEREUM)

March 8, 2019

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, the correction is slowing down. After reaching the retracement of 61.8%, BTCUSD is trying to form a new rising wave; the first upside target is the high at 4188.40. After breaking the high, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 4393.00 and 4519.00 respectively. The next downside target may be the retracement of 76.0% at 3543.00. 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 pair is being corrected upwards and has already reached the retracement of 38.2%. The next targets are the retracements of 50.0%, 61.8%, and 76.0% at 3921.00, 3986.00, and 4059.00 respectively. The local support is the low at 3652.60.


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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 61.8%, the pair started a new pullback to the upside. The target is the high at 166.04. In case the price resumes falling, the next target will be the retracement of 76.0% at 115.90.

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

In the H1 chart, ETHUSD is being corrected upwards and has already reached the retracement of 23.6%. The next targets are the retracements of 38.2% and 50.0% at 141.67 and 146.30 respectively.

ETHEREUM

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.