[8.29 Market Brief]
BTC maintained consolidation yesterday, with a slight pullback on the 4-hour chart, focusing on the support at 111000.
The daily chart has broken below the consolidation range, but the low divergence pattern is still present, indicating an overall adjustment.
The weekly level remains healthy, and a new round of upward cycle is brewing.
ETH's movement follows BTC, consolidating in sync.
The downward momentum on the 4-hour chart is weakening, while the daily structure remains healthy, waiting for accumulation.
Altcoin Sector
Overall follows the mainstream consolidation, with neutral sentiment.
Oracle Sector: PYTH surged sharply due to positive news, and attention can be linked to other oracle coins.
ETH Ecosystem: UNI, ENS, ETHFI can be moderately followed,
🔹 Market Information
The expectation of the Federal Reserve cutting interest rates remains the overarching direction, with a fundamentally positive bias.
Support and Resistance
$BTC : 110000-111000 / 113000-114000
$ETH : 4350-4450 / 4600-4700
