Bitcoin and Ethereum Market Analysis on October 8: BTC, ETH Highlights Today

Market Review

Yesterday, BTC saw a slight increase, maintaining a healthy trend on the 4-hour chart, returning above 116,000. The downward momentum on the daily level weakened, and the trend remains healthy. A golden cross on the axis is expected to form again, signaling the potential start of a new upward trend. The weekly trend remains healthy; pay more attention to fundamental information, particularly the Federal Reserve's interest rate cut process. The expectation for the day is to continue consolidating, with attention on the resistance at 118,000. On a larger cycle, a new upward cycle has started on the weekly chart.

Altcoins followed BTC and rose in sync, with a significant increase in volume over the 4-hour period. The upward momentum broke through resistance, and the trend is once again strong. The downward momentum on the daily level weakened, and a golden cross on the axis is expected to form, indicating the potential for a new upward trend. The expectation for the day is continued growth, challenging the 4,000 mark.

Altcoins rose in sync with the mainstream, with the altcoin index experiencing a slight correction, but market sentiment remains low. Monitor BTC's market share, fiat currency buy signals, and identify altcoin activation signals. Coins under ETH are heavily influenced by ETH itself. PENDLE saw a significant increase today, breaking through with volume; it can be held for now. Recently, Binance has been active with frequent events, and Alpha points activities are ongoing, allowing users to earn points. There have been substantial gains lately, providing opportunities to profit.

Today's Highlights:

BTC's 1-hour and 4-hour levels have returned to a healthy state, and the daily level has returned to normal levels. The expectation for the day remains consolidation, with support at 115,300-116,000 and resistance at 117,500-118,500.

ETH's 1-hour and 4-hour levels have returned to a healthy state, and the daily level is also back to a healthy state. The expectation for the day is continued growth, with support at 3,800-3,900 and resistance at 4,000-4,100.