December 3rd Bitcoin and Ethereum Market Analysis: Key Points for Today (BTC & ETH)
Market Review
Yesterday's BTC rebound was significant without a second test, and no obvious positive news emerged. This may be due to the Fed's announcement of the end of QT, which restored market sentiment. The 4-hour chart improved, and existing positions can be held to await a breakout. The VIX has returned to VIX levels, and the daily chart is starting to improve. Expectations for a December rate cut have returned, and further rate cuts are possible. Pay attention to fundamental factors. The weekly chart remains healthy, and phased entry can be considered, waiting for stabilization and a subsequent upward move.
Bitcoin (2D) rebounded in tandem with BTC), showing improved momentum on the 4-hour chart. However, a correction is still needed on the daily chart. Consider entering the market in batches.
Altcoins rebounded in tandem with mainstream stocks, but 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.
Intraday Market Analysis
BTC has returned to a healthy range on the 1-hour and 4-hour charts, but is below that range on the daily chart. Sideways consolidation is expected today, with support at 91000-92000 and resistance at 93500-94500.
ETH has returned to its healthy range on the 1-hour and 4-hour charts, but is currently below it on the daily chart. Intraday consolidation is expected, with support at 2900-3000 and resistance at 3100-3150.
