Bitcoin and Ethereum Market Analysis on 8.5: Today's Focus on BTC and ETH
Market Review
Yesterday, BTC continued to rebound without significant volume increase. The 4-hour repair trend touched the 115,500 resistance level without breaking through, maintaining consolidation. The daily downward momentum weakened, continuing to await recovery. The weekly trend has somewhat recovered. Pay attention to fundamental information, Federal Reserve interest rate cuts. The daily expectation is to maintain consolidation, with the larger cycle potentially starting a new weekly upward cycle.
The secondary market followed BTC's synchronized rebound. The 4-hour slight divergence showed a rebound beyond expectations, still needing correction and repair. The daily downward momentum weakened. Focus on 4-hour trend changes, with daily expectations of maintaining consolidation.
Altcoins followed mainstream cryptocurrencies in synchronized rebound. The altcoin index returned to a lower level, with market sentiment again depressed. Monitor BTC market dominance, fiat buying signals, and altcoin startup signals. ETH-related coins are heavily influenced by ETH. PENDLE experienced significant pullback and could be considered for accumulation while waiting for 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 Focus:
BTC's 1-hour and 4-hour levels returned to healthy levels, with daily levels returning to normal. Daily expectation is to maintain consolidation. Lower support is 113,500-114,000, with upper resistance at 115,500-116,000.
ETH's 1-hour and 4-hour levels returned to healthy levels, with daily levels returning to healthy status. Daily expectation is to maintain consolidation. Lower support is 3,520-3,600, with upper resistance at 3,700-3,750.
