Market Analysis for October 8
Yesterday, BTC experienced a slight pullback and consolidation, with mild volume increase. The 4-hour timeframe continues to repair, daily momentum is contracting, and the weekly trend remains positive, indicating a potential new round of upward movement in the longer term. Attention should be paid to changes in volume during the day. ETH is consolidating in sync with BTC, but the 4-hour upward momentum is facing resistance and still needs further consolidation.
The altcoin market sentiment is relatively weak, with the altcoin index at a low level. In the short term, high market cap coins can be followed, while mid-term positions can be taken. No broad upward signals have been observed for low market cap coins, so focus should be on the volume expansion of the ETH ecosystem.
BSC and Alpha are frequently active, allowing users to earn points and take advantage of opportunities. In terms of the market, BONK is highly popular, and BTC ecosystem project RGB will have a token launch at 1 AM tomorrow, which requires close attention.
Support and Resistance:
BTC 112000-112500/114500-115000,
ETH 3450-3500/3650-3700.
Attention for the day: PROVE TOWNS OG EPIC PYR
