Fibonacci Retracements Analysis 19.02.2021 (BITCOIN, ETHEREUM) February 19, 2021
Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
As we can see in the H4 chart, BTCUSD continues updating its all-time highs without even thinking of starting any pullbacks.After breaking the post-correctional extension area between 138.2% and 161.8% fibo at 47080.00 and 50213.00 respectively with confidence, the asset has fixed above it.The next upside target is 261.8% fibo at 63300.00.The support is at 42017.50.At the same time, there is a divergence on MACD, which may hint at a quick and deep pullback.
The H1 chart shows a local divergence but the pair may yet reach 55000.00 in the nearest future.however, if the price fails to break the high at 52645.02, the asset may start a new pullback towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 47130.00, 43700.00, 40950.00, and 38190.00 respectively.
ETHUSD, “Ethereum vs.US Dollar”
The H4 chart shows a stable uptrend, which, after breaking the fractal high at 1421.10, is heading towards the post-correctional extension area between 138.2% and 161.8% fibo at 1930.80 and 2247.65 respectively.However, there is a divergence on MACD, which may hint at a new correctional downtrend.
As we can see in the H1 chart, the pair is about to test the post-correctional extension area between 138.2% and 161.8% fibo at 1951.50 and 2000.16 respectively.
The local support is the fractal low at 1666.75.
Article By RoboForex.com
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