Bitcoin and Ethereum Market Analysis on 7.12: BTC, ETH Highlights Today
Market Review
Yesterday, BTC maintained consolidation, and today it started a mild upward trend, breaking through the historical high again. The 4-hour chart entered the overbought zone, with reduced downward momentum, a healthy trend, and potential for further new highs. Focus on the 120,000 resistance level; successfully breaking through the upper resistance weakens, maintaining a good daily trend, with amplified volume, having successfully broken out and expected to continue rising. The weekly trend is recovering, pay attention to fundamental information, the Federal Reserve's interest rate cut process. Intraday expectation is continued growth, with a new weekly upward cycle starting
Ethereum followed BTC's synchronous adjustment, standing above the 3,000 mark again. The 4-hour level remains healthy, with reduced downward momentum, adjustment completed, maintaining a healthy daily trend, volume beginning to increase, with an intraday expectation of continued growth
Altcoins synchronized with mainstream trends, with the altcoin index mildly rising. Most altcoins are experiencing a general increase, still waiting for liquidity transfer and mainstream stabilization before considering following. ETH-related coins are heavily influenced by ETH, waiting for stabilization before considering following. Binance has been frequently active, with ongoing Alpha point activities that can be utilized while waiting for the next event. SOL's on-chain activity continues to rise, with recommended focus on meme coins
Today's Highlights:
BTC is in the overbought zone at 1-hour and 4-hour levels, also in the overbought zone on the daily chart. Intraday expectation is continued growth, with lower support at 118,500-119,000 and upper resistance at 120,000-122,000
ETH is in the overbought zone at 1-hour and 4-hour levels, also in the overbought zone on the daily chart. Intraday expectation is continued growth, with lower support at 2,900-2,950 and upper resistance at 3,100-3,300
