Crypto ( Bitcoin, Ethereum ) outlook for 23.08.2023
Bitcoin- Short term traders could look for buying opportunities
In my previous Bitcoin analysis, I said that, in my opinion, Bitcoin will eventually drop under support, and this remains my idea for the medium term.
However, the recent strong reversal from support makes me believe that a correction could follow, and short-term traders could speculate on this.
Technically, as I said, BtcUsd reversed from support and buy dips under 26k would also have a very good R:R if we target 28k resistance

Ethereum could rise toward 1800 zone
Exactly like Btc, also Eth is “not feeling well” and in the medium term, we could see more downside.
However, at this moment, also here we could see some correction and short-term traders could take advantage of this.
Looking at the Eth chart we can see that yesterday’s drop is in fact a higher low referring to the 18 Aug low, which adds to my bullish bias (BTC made a new local low yesterday).
In conclusion, I’m bullish also ETH for the very short term, and if, indeed, a correction will follow I’m focusing on the 1800 zone as a target.

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