Fibonacci Retracements Analysis 18.10.2019 (BITCOIN, ETHEREUM)

18.10.2019

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the H4 chart, after reaching 38.2% fibo, BTCUSD has started a new decline towards the low at 7675.00. if the price breaks it, the instrument may not only fall to reach mid-term 61.8% fibo at 7350.00, but also enter the post-correctional extension area between 138.2% and 161.8% fibo at 7373.00 and 7134.00 respectively. The resistance is the high at 8809.00.

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

In the H1 chart, the pair is steadily trading downwards to reach the low 7675.00.

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 H4 chart, the correctional uptrend has reached 61.8% fibo; after testing the resistance, the pair has started a new decline along it. The closest downside target is the local low at 152.28. After breaking it, this decline may be heading towards mid-term 76.0% fibo at 148.60.

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

In the H1 chart, the instrument is forming a stable downtrend.

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

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.