Bitcoin and Ethereum Market Analysis on September 6: BTC, ETH Highlights Today

Market Review

Yesterday, BTC continued to consolidate, dropping significantly in the early hours due to fundamental factors. It broke below the support range in the 4-hour timeframe, and the daily level still needs to be corrected. The short-term cycle requires adjustment, while the weekly trend remains healthy. Pay close attention to fundamental information, the Federal Reserve's interest rate cut process, and expect a rebound from oversold conditions today. We are waiting for the market to make a move. In terms of the larger cycle, the weekly golden cross has formed, and a new round of market activity is expected to start.

Altcoins are following BTC and declining simultaneously, with the 4-hour trend dropping to the lower end of the consolidation range. The daily level still needs adjustment, and today we will focus on the breakout situation of the 2500 resistance level.

Altcoins are also declining in sync with the mainstream, and market sentiment remains low. The altcoin index has once again pulled back to a lower level, waiting for mainstream market activity to unfold. Pay attention to meme coins and ETH-related tokens. Binance has been very active recently, with continuous Alpha point activities; you can accumulate points and wait for the next round of activities. The activity on the SOL chain is continuously rising, so it’s worth paying more attention to MEME tokens.

Today's Highlights:

BTC is below the healthy range on the 1-hour and 4-hour levels, and the daily level has returned to the healthy range. Expect a rebound from oversold conditions today, with support at 101500-102000 and resistance at 103000-104000.

ETH is below the healthy range on the 1-hour and 4-hour levels, and the daily level has returned to the healthy range. Expect a rebound from oversold conditions today, with support at 2350-2400 and resistance at 2500-2550.