Bitcoin and Ethereum Market Analysis on September 5: BTC, ETH Highlights Today

Market Review

Yesterday, BTC had a slight pullback, with no significant increase in volume over 4 hours; the momentum is not strong, which is not a big issue. The daily level volume change is not strong, and it needs adjustment to wait for a breakout. The weekly trend has shown some recovery, so pay more attention to fundamental information, the Federal Reserve's interest rate cut process, and today’s expectation remains oscillatory. In terms of the larger cycle, the weekly level has not broken down, and a new round of market action is expected to start.

Altcoins followed BTC in a synchronized pullback, with little fluctuation. Watch the support level at 2500. The daily level downward momentum is weakening, and today’s expectation remains in consolidation.

Altcoins are synchronously pulling back with mainstream coins, but the altcoin index is still not high. We are waiting for the mainstream to stabilize before considering following up. Tokens under ETH are significantly influenced by ETH, so we are waiting for stabilization before considering following up. Recently, Binance activities have been frequent, and Alpha points activities are ongoing; you can redeem points to wait for the next round of activities. The activity on the SOL chain is continuously increasing, so pay more attention to MEME tokens.

Highlights Today:

BTC has returned to a healthy range on the 1-hour and 4-hour levels, and the daily level has also returned to a healthy range. Today’s expectation remains in consolidation, with support at 107000-107500 and resistance at 109000-109500.

ETH has returned to a healthy range on the 1-hour and 4-hour levels, and the daily level has also returned to a healthy range. Today’s expectation remains in consolidation, with support at 2450-2500 and resistance at 2600-2650.