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Fibonacci Retracements Analysis 24.11.2017 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTC USD, “Bitcoin vs US Dollar”

As we can see at the H4 chart, the BTC/USD pair is still moving upwards. The next upside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 8774.76 and 9313.05 respectively. However, we can’t help but notice that the psychologically-crucial level at 10000.00 may be the main ambitious target of the instrument.

BTCUSD1

At the H1 chart, the pair is about to complete the being correction to the downside and may start a new ascending impulse. However, the correction hasn’t been finished yet and may continue towards the retracements of 23.6%, 38.2%, and 50.0% at 7704.95, 7286.36, and 6993.45 respectively.

BTCUSD2

 

ETH USD, “Ethereum vs. US Dollar”

At the H4 chart, the uptrend continues and may break al-time high. The next upside targets for the ETH/USD pair may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 467.79 and 513.64 respectively.

ETHUSD1

As we can see at the H1 chart, the pair is being corrected to the downside. The target are the retracements of 38.2%, 50.0%, and 61.8% 392.63, 372.52, and 356.25 respectively.

ETHUSD2

 

RoboForex Analytical Department

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.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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