Bitcoin and Ethereum Market Analysis on 7.17: BTC, ETH Highlights Today
Market Review
Yesterday, BTC maintained a consolidation, with a good 4-hour recovery, downward momentum began to weaken, the daily level is still not finished consolidating, with short-term signs of topping, needing pullback and consolidation, patiently waiting, weekly trend has somewhat recovered, pay more attention to fundamental information, Federal Reserve interest rate cuts, expected to continue consolidation intraday, with the larger cycle weekly new upward cycle starting
The second pie started an independent market, breaking through the 3300 strong resistance level, 4-hour trend was intense, making up for gains with an independent market, with significant increases, needing recovery, daily level remains healthy, expected intraday pullback and consolidation, a recovery-type market
Altcoins followed mainstream synchronous growth, altcoin index slightly up, most altcoins beginning to rise generally, still waiting for liquidity transfer, waiting for mainstream to stabilize before considering following, ETH-related coins heavily influenced by ETH, waiting for stabilization before considering following, recent Binance activities frequent, Alpha points activities ongoing, can brush points, waiting for next round of activities, SOL chain activity continuously rising, can pay more attention to meme coins
Today's Highlights:
BTC 1-hour and 4-hour levels returning to normal, daily level returning to normal, expected intraday sideways consolidation, intraday lower support 116500-117000, upper resistance 119000-120000
ETH 1-hour and 4-hour levels entering overbought zone, daily level entering overbought zone, expected intraday pullback and consolidation, intraday lower support 3200-3300, upper resistance 3400-3500
