Daily thoughts on the market from the CryptoPrime team 08/17/2023:#marketoverview#Web3 #token
#BTC Bitcoin fulfilled one of the short scenarios, entering the support zone of $28100-28600. In the near future, I expect to see another descent to upward support, around $28,100 and lower to 200DMA 1D at $27,500, from where we should expect good activity from buyers. Even though I’m expecting a spill and a downward breakdown of the rising wedge in 1 Week, locally there is still a possibility of a slight uptrend in the near future. Judging by the fact that the bulls did not maintain a narrow range in the ROS area, there is a high probability of a breakdown of the wedge and a movement to the nearest global support $24,750-25,300. Let's see how the week closes, how close to the level.
#ETHEther achieved my goals from reviews. Yesterday the day closed right next to the ascending support and today it has already been broken through, pinning the level of $1795 and 200DMA 1D. If today the day closes above these values, then I also expect local growth and buyer activity, with a return for the upward slope. On Week 1 the situation is more suitable for a breakout. Globally, the bearish scenario remains relevant. Remember that there will be a couple of news from the US today that may add volatility. Be careful and make decisions independently and with a cool head.
Profits and informed decisions to everyone!