Hi all!
Daily thoughts on the market from the CryptoPrime team 05/09/2023:
#BTC Bitcoin reached $27,290 (sloping local downward support at 6H), where buying pressure increased slightly, but sellers are not allowing it to rise above $27,750. The price movement develops within the local downward channel at 6H. The instrument consolidated under 200DMA 6H, which stopped the instrument’s fall earlier, which increases the chances of continued decline. In the short term, I expect an upward impulse for Bitcoin to the resistance level of $28K, followed by a rollback of the asset from it to the area of $26,600, where we can consider opening a long position if there is a reaction from buyers.
#ETH The capitalization of the cryptocurrency market decreased by 1% over the past day, the dominance of Bitcoin increased by 0.15%. Ethereum dropped to $1800, after which there was a rebound to the trading level of $1850, hitting the 200DMA 6H, which could not be overcome. There remains a possibility of the asset descending to the April minimum of April 23. — $1790 before the local reversal.
