Bitcoin and Ethereum Market Analysis on October 6: BTC, ETH Highlights Today
Market Review
Yesterday, BTC rebounded from an oversold condition. Pay attention to the developments in the Iran situation. The 4-hour level consolidation looks good. If there are no major escalations regarding Iran, subsequent issues should not be significant. The daily level has broken down and needs to be repaired again and still requires adjustment. The weekly trend remains healthy, keep an eye on fundamental information, the Federal Reserve's interest rate cut process, and focus on event developments during the day, primarily observing. In the larger cycle, the weekly golden cross formation suggests a new round of market activity may be starting.
Ethereum (ETH) followed BTC with a synchronized rebound, returning above 2500, and the 4-hour adjustment state looks good. Waiting for event developments, primarily observing, and will consider after stabilizing.
Altcoins are following mainstream coins with a synchronized rebound, but the altcoin index is still not high. Waiting for mainstream coins to stabilize before considering following up. Tokens under ETH are significantly influenced by ETH, waiting for stabilization before considering following up. Recently, Binance has been very active with continuous Alpha point activities. You can accumulate points and wait for the next round of activities. The activity level on the SOL chain is continuously rising, and you can pay more attention to MEME tokens.
Highlights Today:
BTC is below the healthy range on the 1-hour and 4-hour levels, while the daily level has returned to the healthy range. Focus on event developments during the day, primarily observing and waiting. Daily support is at 104000-104500, with resistance at 106000-107000.
ETH is below the healthy range on the 1-hour and 4-hour levels, while the daily level has returned to the healthy range. Focus on event developments during the day, primarily observing and waiting. Daily support is at 2450-2500, with resistance at 2600-2650.
