December 6th Bitcoin and Ethereum Market Analysis: Key Points for Today (BTC & ETH)
Market Review
BTC remained range-bound yesterday, maintaining a healthy trend. Market sentiment recovered slightly, and existing holdings can be maintained while awaiting a breakout. The fear index returned to fear levels, and the daily chart is showing signs of improvement. Expectations for a December rate cut have returned, and further rate cuts are possible. Pay attention to fundamental factors. The weekly chart remains relatively healthy, and phased entry may be considered, awaiting stabilization and a subsequent upward move.
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's point 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 87500-88000, and resistance is at 90000-91000.
ETH 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 2900-2950, and resistance is at 3100-3150.
