December 8th Bitcoin and Ethereum Market Analysis: Key Points for Today (BTC & ETH)
Market Review
BTC remained range-bound yesterday, with a slight upward movement in the early morning. The trend remains healthy, and market sentiment has recovered slightly. Existing holders can continue to hold and wait for a breakout. The fear index has returned to fear 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 the fundamentals. The weekly chart is still relatively healthy, and it's advisable to consider buying in batches and waiting for 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 the 1-hour and 4-hour charts, and also on the daily chart. Intraday consolidation is expected, with support at 89500-90500 and resistance at 92000-92500.
ETH has returned to a healthy range on both the 1-hour and 4-hour charts, and also on the daily chart. Intraday consolidation is expected, with support at 2950-3000 and resistance at 3150-3250.
