December 5th Bitcoin and Ethereum Market Analysis: Key Points for BTC and ETH Today
Market Review
Yesterday, BTC consolidated but the trend improved, possibly due to the Fed's announcement of the end of QT, which restored market sentiment. The 4-hour chart showed improvement, and existing holdings can be held to await 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 possible. Pay attention to fundamental factors. The weekly chart remains healthy, and consider buying in batches, waiting for stabilization and a price increase.
Bitcoin (2) is consolidating in tandem with BTC), with the 4-hour chart showing improvement and the daily chart breaking the downtrend. After stabilizing, it is expected to continue its upward trend.
Altcoins are consolidating along with mainstream sectors, 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 consider restarting it once the requirements decrease.
Intraday Market Analysis
BTC has returned to a healthy range on both the 1-hour and 4-hour charts, as well as the daily chart. Intraday consolidation is expected, awaiting stabilization. Intraday support is at 91000-92000, and resistance is at 94000-95000.
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 consolidation is expected, awaiting stabilization. Intraday support is at 3050-3150, and resistance is at 3250-3350.
