Yesterday, Bitcoin continued to rebound, but there wasn't much volume to support it. On the 4-hour level, it's a corrective market. It touched the resistance level of 115500 but couldn't break through, continuing to consolidate within the range. The daily downtrend has gradually slowed, but further correction is still needed; however, the weekly trend shows signs of warming up, and it feels like a new round of increases might be starting. At this time, it's important to pay attention to fundamental news, especially the progress of the Federal Reserve's interest rate cuts.
Ethereum rebounded in sync with Bitcoin. The 4-hour chart shows a slight divergence, and the rebound is greater than expected, but after a significant rise, a correction is needed. The daily downtrend is also weakening, and the focus should be on whether there will be new changes in the 4-hour trend. Today, it's likely to continue consolidating.
Altcoins are rebounding along with the mainstream, but the altcoin index has returned to a low position, and market sentiment has cooled down again. Attention should be paid to Bitcoin's market share changes and fiat buying signals, as these can help judge when altcoins might start moving. Ethereum-related coins are greatly influenced by ETH; for example, PENDLE has retraced a lot, and now is a good time to consider adding to positions in anticipation of future rebounds. Recently, Binance activities have been quite lively, with Alpha points activities coming one after another, so it's a good idea to accumulate points when possible. Recently, there have been many 'big profits,' so it's important to seize the opportunity.
Today's Key Focus
- Bitcoin: The 1-hour and 4-hour indicators have returned to a healthy range, and the daily has also returned to a normal state. It is expected to continue consolidating throughout the day. Support is seen at 113500-114000, with resistance at 115500-116000.
- Ethereum: The 1-hour, 4-hour, and daily indicators have all returned to healthy levels, and it is likely to focus on consolidation today. Support is at 3520-3600, with resistance at 3700-3750.
