December 11th Bitcoin and Ethereum Market Analysis: Key Points for BTC and ETH Today
Market Review
BTC remained range-bound yesterday, maintaining a healthy trend. The Fed cut interest rates by 25 basis points in the early morning, and the positive news was priced in, leading to a pullback. Those already holding positions can continue to hold and wait for the market to stabilize. The fear index has returned to fear levels, and the daily chart shows a relatively improved situation. Pay attention to the fundamentals. The weekly chart remains healthy, awaiting stabilization and a potential upward move.
Bitcoin (2) is consolidating in tandem with BTC), maintaining a healthy trend. The positive news has been priced in, leading to a pullback, and the price is awaiting stabilization. The daily chart has returned to a healthy level, and after stabilization, 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 88,500-89,000 and resistance at 91,000-92,000.
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 3100-3150 and resistance at 3300-3350.
