December 2nd Bitcoin and Ethereum Market Analysis: Key Points for Today (BTC & ETH)
Market Review
BTC continued its decline yesterday, with no obvious negative news. The 4-hour chart hasn't broken support yet, and the fear index has returned to extremely fear levels. The daily chart still needs adjustment. Expectations for a December rate cut have returned, and further rate cuts are possible. Pay attention to fundamental factors. The weekly chart is relatively healthy; consider buying in batches, waiting for a second dip before a pullback and subsequent rise.
Bitcoin (2) followed BTC(1) in its decline, but the 4-hour chart hasn't broken the support level yet. The daily chart still needs further adjustment; consider entering in batches.
Altcoins are falling in tandem with mainstream stocks, and overall liquidity remains poor. We'll wait for altcoins to stabilize before making any moves. Alpha activity points requirements are getting increasingly higher, so we've suspended point farming and will consider restarting it once the requirements decrease.
Today's highlights:
BTC is below the healthy range on the 1-hour and 4-hour charts, and also below the healthy range on the daily chart. Further declines are expected today, with support at 83500-84500 and resistance at 87000-88000.
ETH is below its healthy range on the 1-hour and 4-hour charts, and also below its healthy range on the daily chart. Further declines are expected today, with support at 2650-2700 and resistance at 2800-2850.
