Fibonacci Retracements Analysis 09.08.2019 (BITCOIN, ETHEREUM)

August 9, 2019

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, after reaching 38.2% fibo, BTCUSD is forming a new rising impulse. If the price returns to 23.6% fibo, it may continue growing to reach the high at 13857.20. The next descending wave will move towards 50.0% and 61.8% fibo at 8600.00 and 7350.00 respectively.

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

In the H4 chart, the pair is being corrected to the downside and has already reached 23.6% fibo. The next targets may be 38.2% and 50.0% fibo at 11097.00 and 10715.00 respectively. The resistance is the high at 12317.40.


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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 daily chart, ETHUSD is still being corrected between 50.0% and 61.8% fibo. After completing the correction, the pair may fall towards 76.0% fibo at 163.20. The resistance is 38.2% fibo at 262.90.

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

The H4 chart shows more detailed structure of the current correction.

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.