Bitcoin and Ethereum Market Analysis on May 17: BTC, ETH Highlights Today

Market Review

Yesterday, BTC maintained a consolidation with slight pullback, the trend remains healthy, and there are signs of stabilization. Further attention should be paid to fundamental information, the Federal Reserve's interest rate cut process, a long upper shadow appeared on the 4-hour chart, and there is potential for an increase during the day. Consider following up in batches. In terms of the longer cycle, a golden cross has formed on the weekly chart, and a new round of market movement is expected to start.

Ethereum is consolidating in sync with BTC, with slight pullback, focus on stabilization during the day, and consider following up in batches, with potential for an increase.

Altcoins are consolidating in sync with mainstream coins, market sentiment remains low. If mainstream coins stabilize, consider following up. Pay attention to meme coins, as Binance has been quite active recently with ongoing Alpha point activities. You can accumulate points and wait for the next round of activities. The activity on the SOL chain continues to rise, so it’s worth paying more attention to MEME coins.

Today's Highlights:

BTC maintains healthy levels on the 1-hour and 4-hour charts, and the daily chart has returned to a healthy level. The expectation for today is sideways consolidation, with support at 102500-103000 and resistance at 105000-106000.

ETH maintains healthy levels on the 1-hour and 4-hour charts, and the daily chart has returned to a healthy level. The expectation for today is sideways consolidation, with support at 2450-2500 and resistance at 2650-2700.