Bitcoin and Ethereum Market Analysis on July 21st: BTC, ETH Highlights Today
Market Review
Yesterday, BTC continued to consolidate, with a light callback in the early morning. The 4-hour repair was good, and the downward momentum began to weaken, with potential for continued growth. The daily level still needs adjustment, market sentiment is positive, and attention should be paid to volume changes. The weekly trend has somewhat recovered, with more focus on fundamental information, the Federal Reserve's interest rate cuts, and an expected intraday sideways consolidation. The large cycle suggests the start of a new weekly upward cycle
The second pie has started an independent market trend, with a 4-hour trend being somewhat extreme. A divergence pattern has been observed, with a need for further consolidation. The daily level trend is intense, with healthy volume, but the short-term increase is too rapid, requiring consolidation, and an intraday sideways adjustment is expected
Altcoins are rising in sync with mainstream trends. The altcoin index has begun to rise, with most altcoins experiencing a general increase. Market sentiment is recovering, no longer affected by BTC's callback. BTC's market dominance is starting to decline, and liquidity is shifting. ETH-related coins are heavily influenced by ETH and can be considered for follow-up. Pay attention to Pendle, which shows a good trend and is expected to rise. Binance has been hosting frequent activities, with ongoing Alpha point events where points can be accumulated. Recently, there have been many opportunities for gains
Today's Highlights:
BTC's 1-hour and 4-hour levels have returned to normal, with the daily level above normal. An intraday consolidation is expected, with lower support at 115,500-116,000 and upper resistance at 118,000-118,500
ETH's 1-hour and 4-hour levels have entered the overbought zone, with the daily level also in the overbought zone. An intraday sideways consolidation is expected, with lower support at 3,550-3,650 and upper resistance at 3,800-3,850
