Yesterday, BTC continued to decline, with a significant drop in the early morning. There was no obvious negative news, and the washing and adjustment may be larger. The 4-hour chart has entered the oversold range, so watch for rebound conditions. The daily level's downward momentum is amplifying, waiting for a repair. The weekly trend has shown some recovery, so pay more attention to fundamental information. The expectation for the day is a rebound from an oversold state.
The second-tier coins followed BTC's decline, breaking below the consolidation range on the 4-hour chart, with downward momentum amplifying. Watch for changes in volume and wait for a repair. The daily level's trend has broken down, focus on the changes in the 4-hour trend, with expectations for a rebound from an oversold state for the day.
Altcoins followed the mainstream decline, and the altcoin index has returned to a low level. Market sentiment is once again low, so pay attention to BTC's market share. There are signals for fiat currency purchases, to determine the initiation signal for altcoins. ETH-related tokens are heavily influenced by ETH, and PENDLE has retraced significantly, which could be considered for accumulation, waiting for a rebound.
Intraday Market Analysis
BTC's 1-hour and 4-hour levels have entered the oversold range, the daily level has returned to normal levels, and the expectation for the day is a rebound from an oversold state. The intraday support is between 112500-113000, with resistance at 115000-116000.
ETH's 1-hour and 4-hour levels have entered the oversold range, and the daily level is below a healthy level, with an expectation for a rebound from an oversold state. The intraday support is between 3400-3450, with resistance at 3600-3650.
