Bitcoin and Ethereum Market Analysis for October 6: BTC, ETH Highlights

Market Review

Yesterday, BTC experienced a rebound after a significant drop, with a quick pullback over the 4-hour period. Adjustment is still needed, and the daily level requires repair. The short cycle still needs adjustment, while the weekly trend remains healthy. Pay more attention to fundamental information, the Federal Reserve's interest rate cut process, and the expectation of maintaining volatility today, waiting for the market to develop. On the larger cycle, the weekly golden cross is forming, and a new round of market movement is expected to start.

Altcoins are following BTC's rebound, the 4-hour period has not yet completed its adjustment, and the daily level still requires repair. A further rebound is expected today, watch for a breakthrough at the 2500 resistance level.

Altcoins are consolidating alongside mainstream coins, and market sentiment remains low. The altcoin index has once again pulled back to a lower level, waiting for the mainstream market to develop. Focus on meme coins and ETH-related tokens. Recently, Binance has been very active with ongoing Alpha points activities. You can accumulate points while waiting for the next round of activities. The activity level on the SOL chain continues to rise, so pay more attention to MEME tokens.

Highlights for Today:

BTC is below the healthy range on the 1-hour and 4-hour levels, while the daily level has returned to the healthy range. The expectation for today is to maintain consolidation, with support at 103500-104000 and resistance at 105500-106000.

ETH is below the healthy range on the 1-hour and 4-hour levels, while the daily level has returned to the healthy range. The expectation for today is to continue rebounding, with support at 2400-2450 and resistance at 2550-2600.