Bitcoin and Ethereum Market Analysis on 7.8: BTC, ETH Highlights Today
Market Review
Yesterday, BTC pulled back again and did not develop as expected. The 4-hour level still needs consolidation, and the pullback disrupted the upward momentum. Waiting for the downward momentum to weaken, the daily level also needs further consolidation. Focus on 4-hour volume changes, with the weekly trend somewhat recovering. Pay attention to fundamental information, the Federal Reserve's interest rate cuts, and expect sideways movement intraday. The weekly level has not broken through, waiting to be activated
The secondary market followed BTC's synchronized pullback, with limited volatility. The 4-hour level remains healthy, but volume is insufficient and still needs consolidation. The daily level remains healthy, waiting for volume changes, with intraday expectations of sideways movement
Altcoins synchronized pullback with mainstream coins, with the altcoin index still low. Waiting for mainstream coins to stabilize before considering following. ETH-related coins are heavily influenced by ETH, waiting to stabilize before considering following. Binance has been frequently active recently, with ongoing Alpha point activities. You can accumulate points and wait for the next round of activities. SOL's on-chain activity continues to rise, and it's worth paying attention to meme coins
Today's Highlights:
BTC 1-hour and 4-hour levels returning to healthy ranges, daily level returning to a healthy range. Intraday expectation is continued growth, with lower support at 106,500-108,000 and upper resistance at 108,500-109,000
ETH 1-hour and 4-hour levels returning to healthy ranges, daily level returning to a healthy range. Intraday expectation is continued growth, with lower support at 2,450-2,500 and upper resistance at 2,570-2,620
