8.2 Bitcoin and Ethereum Market Analysis: BTC, ETH Highlights Today

Market Review

Yesterday, BTC continued to decline, with a significant drop in the early morning. No obvious negative news was observed, and the washout may be greater. The 4-hour chart entered the oversold zone, so we should pay attention to the rebound situation. The daily chart's downward momentum is amplifying, waiting for a correction. The weekly trend has shown some recovery, with more focus on fundamental information and the Federal Reserve's interest rate cut process. An expectation of an oversold rebound is present in the intraday market, and a new round of upward cycles on the weekly chart has begun.

Altcoins followed BTC and fell in sync, breaking below the consolidation range on the 4-hour chart, with downward momentum increasing. We need to pay attention to volume changes and wait for recovery. The daily chart trend has broken down, so watch for changes in the 4-hour trend with expectations of an oversold rebound for the day.

Altcoins fell in sync with the mainstream, with the Altcoin index returning to a low level. Market sentiment is once again bleak. Pay attention to BTC's market share situation and fiat currency buy signals, to determine the startup signals for altcoins. Coins under ETH are greatly influenced by ETH, and PENDLE has seen a significant pullback, which could be a good opportunity for accumulation while waiting for a rebound. Recently, Binance has been very active, with ongoing Alpha points activities; one can use their points. Recently, there has been a substantial increase, so it's a good time to take advantage of opportunities.

Highlights Today:

BTC's 1-hour and 4-hour levels have entered the oversold zone, and the daily level has returned to normal levels, with an expectation of an oversold rebound today. The intraday support is at 112500-113000, and resistance is at 115000-116000.

ETH's 1-hour and 4-hour levels have entered the oversold zone, and the daily level is below healthy levels, with an expectation of an oversold rebound today. The intraday support is at 3400-3450, and resistance is at 3600-3650.