Fibonacci Retracements Analysis 26.07.2019 (Bitcoin, Ethereum)

July 26, 2019

Article By RoboForex.com

Bitcoin

On H4 the currency is completing a short-term pullback and starting a new wave of decline. If the quotations manage to break through the local minimum 9098.90, further decline may be aimed at 50.0% (8600.00) and 61.8% (7370.00) Fibo. The resistance is at 23.6% (11380.00).

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

On H1 we can see that after a convergence the market is trying to develop a wave of growth towards 50.0% (11142.00) Fibo. However, the main trend is still descending.


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

Эфириум (Ethereum)

On H4 the ETH demonstrates a correction period upon reaching 61.8% Fibo. The correcting wave of growth failed to reach 38.2% (239.40) Fibo However, the next wave of growth may do it and rise to 50.0% (254.50). Upon completing the correction a breakaway of the minimum and a decline to 76.0% (163.75) may follow.

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

On H1 we may see that, after a convergence, an impulse of growth has formed, which may develop into an uptrend to the target levels.

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.