📊 Intraday Market Analysis (8.29)
🔹 BTC
Last night continued to experience narrow fluctuations, with slight signs of retracement on the 4-hour chart, overall still in a consolidation phase.
Key Point: 111000 is the support level; if it breaks, it may further weaken; the upper resistance is at 113000–114000.
Although the daily line has broken out of the consolidation range, the weekly trend remains healthy, with the larger cycle bullish pattern unchanged.
🔹 ETH (Second Currency)
The trend follows Bitcoin, also in a consolidation phase. The 4-hour structure is healthy, and the daily line has returned to the bullish range.
Support Zone: 4350–4450, Resistance Zone: 4600–4700. In the short term, still in a consolidation phase, patiently waiting for increased volume.
🔹 Altcoins
Overall follow the mainstream fluctuations, with sentiments being somewhat low; only a few individual coins are experiencing slight increases.
The ETH ecosystem remains the main focus, with strong coins like PENDLE being worth holding.
Additionally, there have been many activities on Binance recently, and Alpha points can be used to earn some benefits.
Don't rush in the short term; both BTC and ETH are in a consolidation range. Whether the support of Bitcoin can hold will determine the next opportunity for altcoins. The larger cycle remains bullish, just needing time to digest.
