December 9th 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), but the 4-hour chart shows an improved trend with a golden cross forming above the pivot point, suggesting further upward potential. The daily chart has broken the downtrend and, after stabilizing, is expected to continue its upward movement.
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 the 1-hour and 4-hour charts, and also on the daily chart. Intraday consolidation is expected, with support at 89000-89500 and resistance at 91500-92500.
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 3000-3050 and resistance at 3150-3250.
