Bitcoin and Ethereum Market Analysis on 8.16: BTC, ETH Highlights Today
Market Review
Yesterday, BTC underwent another callback and consolidation, with a recovery trend. The 4-hour trend remains healthy, maintaining an upward trend. Short-term callback is not a significant issue. The daily trend remains healthy, with a golden cross formed on the axis, signaling the start of a new round of growth. The weekly trend remains healthy. Pay attention to fundamental information, the Federal Reserve's interest rate reduction process. The intraday expectation is to maintain consolidation, with a new round of growth cycle starting on the weekly timeframe
The second pie chart started an independent trend, continuing to callback and consolidate. The 4-hour trend remains healthy, with the upward expectation unchanged. The daily level remains healthy, with a golden cross formed on the axis, opening a new round of growth. The intraday expectation is to maintain consolidation
Altcoins followed the mainstream with synchronized callback. The altcoin index showed a mild pullback, with market sentiment still low. Focus on BTC market dominance, fiat currency buying signals, and judging altcoin startup signals. ETH-related coins are heavily influenced by ETH. Pendle showed good growth with volume breakthrough and can be continued to be held. Binance has been frequently hosting activities, with ongoing Alpha points events. Points can be accumulated, and there are many opportunities for rewards recently
Today's Highlights:
BTC returns to a healthy range at 1-hour and 4-hour levels, with a daily level returning to a healthy range. Intraday expectation is to maintain consolidation. Intraday lower support is 116,000-117,000, with upper resistance at 119,000-120,000
ETH returns to a healthy range at 1-hour and 4-hour levels, with a daily level above the healthy range. Intraday expectation is to maintain consolidation. Intraday lower support is 4,350-4,400, with upper resistance at 4,600-4,700
