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

Market Review

Yesterday, BTC experienced a slight correction with low volume. The 4-hour chart shows a corrective trend, continuing to consolidate. The daily chart's downward momentum is weakening, and we wait for further recovery. The weekly trend has shown some recovery, so pay more attention to fundamental information, such as the Federal Reserve's interest rate cut process. The expectation for the day continues to maintain consolidation. In the longer term, a new round of upward cycles has begun on the weekly chart.

Altcoins are consolidating in sync with BTC. The 4-hour upward momentum is weakening and still needs to consolidate. The daily chart's downward momentum is also weakening. Pay attention to changes in the 4-hour trend; the expectation for the day continues to maintain consolidation.

Altcoins are following mainstream trends in consolidation, with the altcoin index returning to lower levels, and market sentiment is once again low. Monitor BTC's market share situation, fiat currency buying signals, and determine the altcoin activation signal. Coins under ETH are greatly influenced by ETH. PENDLE has seen significant corrections and may be considered for accumulation, waiting for a rebound. Recently, Binance has been very active, and the Alpha point activity is ongoing, providing opportunities to earn points. There has been considerable profit recently, making it a good time to take advantage of the situation. At 1 AM tomorrow, RGB will begin its new offerings, so pay close attention and stay up late for the new offerings.

Today's Highlights:

BTC's 1-hour and 4-hour levels have returned to healthy levels, and the daily level is back to normal. The expectation for the day remains consolidation, with support at 112000-112500 and resistance at 114500-115000.

ETH's 1-hour and 4-hour levels have returned to healthy levels, and the daily level is also back to healthy levels. The expectation for the day remains consolidation, with support at 3450-3500 and resistance at 3650-3700.