Market Analysis for BTC and ETH on 8.4: BTC, ETH Highlights Today
Market Review
Yesterday, BTC experienced an oversold rebound without significant volume increase. Focus on the 4-hour rebound and the 115,500 resistance level. The downward momentum at the daily level is weakening, continuing to wait for recovery. The weekly trend has somewhat recovered. Pay more attention to fundamental information, Federal Reserve interest rate cuts. Intraday expectation is continued rebound, with the possibility of a new weekly upward cycle starting
Ethereum followed BTC in a synchronized rebound, with a slight 4-hour divergence. Observe the 3,600 resistance level, waiting for recovery. The daily downward momentum is weakening. Monitor 4-hour trend changes, with intraday expectation of continued rebound
Altcoins rebounded in sync with mainstream cryptocurrencies. The altcoin index returned to a low level, with market sentiment again depressed. Observe BTC market dominance, fiat currency buying signals, and potential altcoin startup signals. ETH-related coins are heavily influenced by ETH. PENDLE has pulled back significantly and may be worth considering for accumulation while waiting for a rebound. Recent Binance activities have been frequent, with ongoing Alpha point events. Points can be accumulated, and there are many opportunities for rewards
Today's Highlights:
BTC has returned to healthy levels on 1-hour and 4-hour timeframes, with daily levels returning to normal. Intraday expectation is continued rebound. Lower support at 113,500-114,000, upper resistance at 115,500-116,000
ETH has returned to healthy levels on 1-hour and 4-hour timeframes, with daily levels returning to normal. Intraday expectation is continued rebound. Lower support at 3,420-3,470, upper resistance at 3,600-3,650
