8.7 Daily Market Analysis
The current market has overall entered a phase of consolidation and correction, with mainstream coins mainly in a range-bound state and altcoin sentiment being low. It is recommended to prioritize defense and wait for a new rhythm to be confirmed.
BTC Bitcoin
Trend Summary: Yesterday continued to consolidate horizontally, currently in a repair channel on the 4-hour chart, with no effective breakout signs yet; patience is needed to wait for signal confirmation.
Bull-Bear Structure:
Daily: Downward momentum is weakening, signs of a short-term bottom are beginning to appear.
Weekly: A new round of upward cycle may have started, but confirmation is still needed over time.
Operation Suggestion: The intraday trend is likely to remain range-bound; pay attention to news, especially regarding the Federal Reserve's interest rate cut progress.
Support Level: 113300 - 114000 Resistance Level: 115000 - 116000
ETH Ethereum
Following BTC's consolidation, the 4-hour momentum has somewhat weakened, and it is expected to remain range-bound in the short term.
Bearish momentum on the daily level is gradually weakening; pay attention to the changes in 4-hour subsequent momentum.
Support Level: 3500 - 3550 Resistance Level: 3700 - 3750
Altcoin Overall Situation
The altcoin index has fallen back to relatively low levels, indicating a cooling of market risk appetite.
BTC's market share remains high, and altcoins have not emerged from an independent market trend.
📉 When the market lacks a clear direction, waiting is more important than acting blindly.
Manage your positions well, participate with light positions, grasp the rhythm, and avoid chasing highs and selling lows.
