Market Analysis for BTC and ETH on 7.11: BTC, ETH Highlights Today
Market Review
Yesterday, BTC continued to rise, with growth exceeding expectations. During the early morning stage, it surged again, breaking historical highs. The direction is clear, with a second confirmation of the trend. It is expected to continue rising. The 4-hour short-term is in an overbought state, which can be ignored. The daily volume has been amplified and successfully broken through, with potential for further growth. The weekly trend has somewhat recovered. Pay attention to fundamental information, the Federal Reserve's interest rate cuts, and expect continued growth today. The large cycle suggests the start of a new weekly upward cycle.
The secondary market followed BTC's synchronous rise, briefly touching the 3000 mark. The 4-hour level remains healthy, with a short-term overbought state but a good trend, which can be ignored. The daily level remains healthy, with volume beginning to increase, and expectations of continued growth today.
Altcoins are rising in sync with mainstream cryptocurrencies. The altcoin index is slightly up, with most altcoins experiencing a general rise. A new cycle is expected to start, waiting for mainstream currencies to stabilize before considering following. ETH-related coins are heavily influenced by ETH, waiting for stabilization before considering entry. Binance has been frequently active recently, with ongoing Alpha point activities that can be utilized while waiting for the next event. SOL's on-chain activity continues to rise, and it's recommended to pay attention to MEME coins.
Today's Highlights:
BTC is in an overbought zone at 1-hour and 4-hour levels, and daily level. Expected to continue rising today. Lower support: 1145000-115000, upper resistance: 118000-120000
ETH is in an overbought zone at 1-hour and 4-hour levels, and daily level. Expected to continue rising today. Lower support: 2850-2900, upper resistance: 3100-3300
