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Fibonacci Retracements Analysis 30.03.2018 (BITCOIN, ETHEREUM)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, BTCUSD is falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 6595.00 and 6145.00 respectively. However, at the same time one case see the convergence being formed, which may indicate a new ascending correction. The upside targets are the retracements of 23.6%, 38.2%, and 50.0% at 7450.00, 8250.00, and 8890.00 respectively.

BTCUSD1
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 movement.

BTCUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

ETHUSD, “Ethereum vs. US Dollar”

In the H4 chart, ETHUSD is moving downwards and has already reached the post-correctional extension area between the retracements of 138.2% and 161.8% at 415.00 and 320.00 respectively. Also, the convergence is being formed ad it may indicate a possible reverse and a new correction to the upside towards the retracements of 23.6%, 38.2%, and 50.0% at 508.00, 598.00, and 671.00 respectively.

ETHUSD1
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 movement.

ETHUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

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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