Bitcoin and Ethereum Market Analysis on 7.23: BTC, ETH Highlights Today
Market Review
Yesterday, BTC continued to rise, with a good 4-hour recovery, breaking through the short-term downward channel, expected to continue rising. The daily level still needs consolidation, market sentiment is good, focusing on volume changes. The weekly trend has somewhat recovered, pay attention to fundamental information, Federal Reserve interest rate cuts. Intraday expectation is continued rise, with the big cycle weekly new round of upward cycle starting
The second pie started an independent market trend, with a good 4-hour adjustment, focusing on stabilizing at 3700, expected to start a new round of rise. The daily level trend is relatively extreme, volume remains healthy, but the short-term increase is too rapid, still needing consolidation, with intraday expectation of continued rise
Altcoins are rising in sync with mainstream coins, altcoin index begins to rise, most altcoins starting to surge. Market sentiment recovers, no longer affected by BTC pullback, BTC market dominance begins to decline, liquidity starts to shift. ETH-related coins are heavily influenced by ETH, can be considered for follow-up. Pay attention to PENDLE, with a good trend and potential to rise. Recent Binance activities are frequent, Alpha points activities ongoing, can accumulate points, with many opportunities for rewards
Today's Highlights:
BTC 1-hour and 4-hour levels return to normal, daily level above normal, intraday expectation of continued consolidation, with lower support 118000-118500, upper resistance 120000-121000
ETH 1-hour and 4-hour levels return to normal, daily level entering overbought zone, intraday expectation of sideways consolidation, with lower support 3600-3650, upper resistance 3800-3850
