On August 28, the old player said: BTC, ETH market stabilization and future points of interest, how to view altcoins?

Market Review and Analysis

The BTC market stabilized yesterday closing at 1120. Based on the current trend, although Bitcoin shows weakness, this market is relatively stable, especially since the daily closing is right at the 112 position. Therefore, this rebound is a necessary condition, and it will also bring altcoins up. The ETH market stabilized at 4600 points yesterday. As mentioned before, this stabilization at 4600 will once again aim for 4800-5000. Let's wait and see how this rebound market develops. Recently, SOL and JTO have performed well among altcoins, so continue to pay attention.

Intraday Market Interpretation

BTC is currently stabilizing around 1120 on the daily line. The four-hour and daily levels have switched to a bullish market. Although Bitcoin showed weakness earlier, it will not be disappointing when it rebounds. The focus now is whether it can reach the target resistance zone of 115-116 in the coming days, and whether it can stabilize at 1160 to open up the space above in the 1180-1220 range. Pay attention to resistance for the rebound market.

The ETH market is similarly stabilizing at 4600 points, reaching the first target for the current rebound while stabilizing. The focus for the next two days is whether it can continue to break through and stabilize at 4800. The current resistance zone is between 4800-5000. If the second coin continues to perform strongly, then this wave is expected to see a significant pullback in the 5000-5300 range. This position should be closely monitored as we are currently in a rebound phase.

The key altcoins to focus on mentioned earlier are SOL and DOGE. Recently, SOL has performed quite well, while DOGE has not performed very well but has not dropped either. JTO has performed well, and I remain optimistic about it. WLD has shown no movement in the AI sector recently, appearing relatively weak. These four coins should continue to be monitored closely.