December 4th Bitcoin and Ethereum Market Analysis: Key Points for BTC and ETH Today
Market Review
Yesterday, BTC remained consolidating with a slight upward trend, possibly due to the Fed's announcement of the end of QT, which restored market sentiment. The 4-hour chart improved, and existing holdings can be maintained while awaiting a breakout. The VIX returned to VIX levels, and the daily chart began to improve, with expectations of a December rate cut resuming and further cuts potentially possible. Pay attention to fundamental developments. The weekly chart remains relatively healthy, and phased entry could be considered, waiting for stabilization and a subsequent upward move.
Bitcoin (2) is rising in tandem with BTC ( 1), with the 4-hour chart showing improved momentum. The daily chart has broken its downtrend and, after stabilizing, is expected to continue its upward trend.
Altcoin stocks are rising slightly following the mainstream, 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 paused point farming and will wait for the requirements to decrease before considering restarting.
Intraday Market Analysis
BTC has returned to a healthy range on the 1-hour and 4-hour charts, and also on the daily chart. Intraday consolidation is expected, awaiting stabilization. Intraday support is at 92,000-93,000, and resistance is at 94,000-95,000.
ETH is above the healthy range on the 1-hour and 4-hour charts, and has returned to the healthy range on the daily chart. Intraday, it is expected to consolidate sideways, awaiting stabilization. Intraday support is at 3050-3150, and resistance is at 3250-3350.
