Fibonacci Retracements Analysis 12.07.2019 (BITCOIN, ETHEREUM)

July 12, 2019

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, after attempting to reach the high at 13857.20, BTCUSD is forming a new descending wave, which may test 38.2% fibo at 9840.00 again, thus continuing the correction. The next downside targets may be 50.0% and 61.8% fibo at 860.00 and 7370.00 respectively.

Bitcoin
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 descending wave after the divergence. By now, it has already reached 61.8% and, after a slight pullback, may continue moving towards 76.0% fibo at 10520.00. The key downside target is the low at 9666.00.


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

As we can see in the daily chart, ETHUSD is still being corrected to the downside and has already reached 38.2% fibo. The next downside targets may be 50.0% and 61.8% fibo at 231.50 and 200.80. The resistance is the high at 363.18

Эфириум (Ethereum) на дневном таймфрейме демонстрирует достижение очередным импульсом спада уровня 38,2%, продолжая развивать коррекционную фазу. Далее котировки могут снизиться к уровням 50,0% (231,50) и 61,8% (200,80) по Фибоначчи. Сопротивлением служит максимум – 363,18.

Ethereum
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 descending channel. Right now, the pair continues testing 38.2% fibo.

ETHUSD

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.