8.9 Bitcoin and Ethereum Market Analysis: BTC, ETH Today's Highlights

Market Review

Yesterday, BTC maintained consolidation, with a healthy 4-hour trend. Pay attention to changes in trading volume; an increase may lead to further price increases. The downward momentum on the daily chart is weakening, and the trend remains healthy. A golden cross on the axis may form again, indicating a potential new round of upward movement. The weekly trend remains healthy, so focus more on fundamental information, especially the Federal Reserve's interest rate cut process. Expectations for slight price increases during the day, with a resistance level at 118000 to monitor. In terms of the larger cycle, a new upward cycle on the weekly chart has started.

The second cryptocurrency has initiated an independent market trend, with a 4-hour increase in volume, breaking the 4000 mark. The upward momentum has overcome resistance zones, and the downward momentum on the daily chart is weakening, with a golden cross formed on the axis. A new round of upward movement is expected to begin, with expectations for continued increases during the day.

Altcoins are following the mainstream upward trend, with the altcoin index showing slight adjustments, but market sentiment remains low. Monitor BTC's market share, fiat currency buying signals, and identify altcoin activation signals. Coins under ETH are more influenced by ETH itself. PENDLE has a good increase and has broken through in volume, which can be held. Recently, Binance has been quite active, with ongoing Alpha point activities, so you can redeem points. There have been quite a few profits recently, which can be capitalized on.

Today's Highlights:

BTC's 1-hour and 4-hour levels have returned to healthy levels, while the daily level has returned to normal levels. Expectations for slight price increases during the day, with support at 115500-116000 and resistance at 117500-118500.

ETH's 1-hour and 4-hour levels have entered the overbought range, and the daily level is also in the overbought range. Expectations for continued increases during the day, with support at 3950-4000 and resistance at 4300-4400.