BTC experienced a slight pullback in the morning, the 4-hour recovery is good, the downward momentum is beginning to weaken, and it is expected to continue rising. The daily level still needs to consolidate, market sentiment is good, and attention should be paid to changes in trading volume. The weekly trend has somewhat recovered, focus more on fundamental information, and the expectation for the day is sideways consolidation. In terms of the larger cycle, a new round of the weekly upward cycle has started.
The second contract has started an independent market trend, the 4-hour trend is extreme, a divergence pattern has been observed, and there is a need for continued consolidation. The daily level trend is extreme, trading volume remains healthy, but the short-term increase has been too fast, indicating a need for consolidation. The expectation for the day is sideways consolidation.
Altcoins are following the mainstream upward trend, the altcoin index has started to rise, most altcoins have begun to increase broadly, market sentiment has recovered, and is no longer affected by BTC's pullback. BTC's market share has started to decline, and liquidity is beginning to shift.
Intraday market analysis
BTC's 1-hour and 4-hour levels have returned to normal levels, the daily level is above normal levels, and the expectation for the day is continued consolidation, with intraday support at 115500-116000 and resistance at 118000-118500.
ETH's 1-hour and 4-hour levels have entered the overbought range, and the daily level has entered the overbought range. The expectation for the day is sideways consolidation, with intraday support at 3550-3650 and resistance at 3800-3850.
