Daily thoughts on the market from the CryptoPrime team 08/22/2023:#marketoverview#Web3 #token

#BTC For many of you, the title of this review may cause cognitive dissonance: “How is this? Bears always pull the price down.” Absolutely right, friends. Now I’m expressing my thoughts... 1Wk. Last week showed us an exit from the rising wedge and a retest of the 200DMA 1Week, coinciding with the key mirror support zone of $25K-25400. As I said yesterday in the review on Binance Feed, in the near future I expect a descent with a retest of this support zone and a small trade in the range of $25,200-26,300. On the chart with the BTC-USDT pair, we see a paranormal candle from August 17, which formed a level at $25,166. Such paranormal tails always close and such levels are a magnet for the price. This week on Friday there will be a speech by the head of the Federal Reserve, which could move financial markets and shed light on the regulator's future plans for monetary policy. Before the performance, I think we will push around within the above corridor. This concerns the near future. Now the global plan. Explaining why we need to go up before we continue down below $25K. Firstly, we have a fairly large imbalance in 1D, almost $2,000, which needs to be closed at least halfway. Secondly, on the CME derivatives exchange we also have a recently formed gap of $26,475-27,850 that has not been closed, which, I think, will also be closed before the continuation of the decline and the breakdown of key supports. The upper limit of the gap on the CME approximately coincides with the middle of the daily imbalance on the cue ball.

#ETHThe situation is similar on ether. Also, on August 17, a paranormal level of $1545 was formed, to which we can also descend in the near future. At the moment, the price is held by the historical mirror level of $1650, but looking at the lack of reaction to the deep LP, the chances of another assault on this level increase. At the bottom, as I said, there is a magnetic level for the price. Be careful and make decisions independently and with a cool head.

Profits and informed decisions to everyone!