Market Review
Yesterday, BTC adjusted and consolidated. This morning, a black swan event occurred with a sudden war in Iran, breaking the recent trend. The 4-hour chart showed a volume-driven decline, returning to the original oscillation range. The daily trend's healthy pattern was broken and needs to be repaired. The weekly trend remains healthy. Focus on fundamental information, the Federal Reserve's interest rate cuts, and monitor event developments. Maintain a wait-and-see approach. On the larger cycle, the weekly golden cross has formed, potentially launching a new market trend
Ethereum followed BTC's synchronized pullback, breaking its original healthy trend. It needs readjustment and is waiting for event developments. Maintain a wait-and-see approach and consider action after stabilization
Altcoins synchronized with mainstream cryptocurrencies' pullback. The altcoin index remains low, waiting for mainstream stabilization before considering entry. ETH-related coins are heavily influenced by ETH, waiting for stabilization before considering entry. Binance has been hosting frequent activities, with ongoing Alpha point events where points can be accumulated while waiting for the next event. SOL's on-chain activity continues to rise, with potential to pay attention to meme coins
Today's Focus:
BTC is below the healthy range at 1-hour and 4-hour levels, returning to the healthy range on the daily chart. Monitor event developments, maintain a wait-and-see approach. Intraday support is 102,500-103,000, with resistance at 105,500-106,000
ETH is below the healthy range at 1-hour and 4-hour levels, returning to the healthy range on the daily chart. Monitor event developments, maintain a wait-and-see approach. Intraday support is 2,400-2,450, with resistance at 2,600-2,650
