18.02.202110:17 Forex-elemzések és áttekintések: Fractal analysis for Bitcoin and Ethereum cryptocurrencies 2/18/21

Forecast for February 18:

Analytical review of the cryptocurrency on the H1 scale:

For the Bitcoin instrument, the key levels on the H1 scale are: 58884, 55624, 54128, 51803, 49641, 48076, 45957 and 44308. Here, we follow the development of the ascending structure from February 7. We are expecting a continuation of the upward movement after the breakdown at the level of 51803. In this case the target is 54124, in the corridor of 54128 to 55624 a short-term upward movement, as well as consolidation. The potential value for the top is the level of 58884, after which we expect a pullback to the bottom.

We expect a short-term downward movement in the corridor of 49641 to 48076, a breakdown of the last value will lead to an in-depth correction, here the target is 45957, the range is 45957 to 44308 is a key support for the top before it. We expect the initial conditions for the downward cycle to be formed.

The main trend is the ascending structure of January 31, the local structure from February 7

Trading Recommendations:

Buy: 51805 Take Profit: 54128

Buy: 55625 Take Profit: 58884

Sell: 49641 Take Profit: 48077

Sell: 48074 Take Profit: 45957

For the Ethereum, the key levels on the H1 scale are: 2100, 2010, 1964, 1851, 1782 and 1715. Here, we follow the development of the ascending structure from February 7 as the main trend and we expect a movement to the level of 1964, in the corridor of 1964 to 2010 a short-term upward movement as well as consolidation at the moment. The breakdown of the 2010 level will allow us to count on a movement towards the potential target -2100, near this level we expect consolidation as well as a pullback downwards.

Short-term downward movement is expected in the corridor 1851 to 1782. The breakdown of the last value will lead to an in-depth correction, here the target is 1715, this level is a key support for the top.

The main trend is the ascending structure from February 7

Trading recommendations:

Buy: 1964 Take Profit: 2010

Buy: 2012 Take Profit: 2100

Sell: 1851 Take Profit: 1784

Sell: 1780 Take Profit: 1717