Bitcoin and Ethereum Market Analysis on July 29: BTC, ETH Highlights Today
Market Review
Yesterday, BTC had a mild callback and consolidation, with a 4-hour trend repair. The 118,000 support was effective, and standing firm may lead to continued growth. The daily trend has recovered well, returning to a healthy trajectory. Pay attention to volume changes, with the weekly trend showing some recovery. Focus on fundamental information and the Federal Reserve's interest rate reduction process. The intraday expectation is to maintain consolidation, with the larger cycle potentially starting a new weekly upward cycle.
The second pie chart has launched an independent market trend, with a good 4-hour trend. After a mild callback, it is gathering momentum. The daily trend is slightly extreme, currently recovering well, with healthy volume. However, the short-term increase is too rapid. Pay attention to 4-hour volume, with an intraday expectation of consolidation, and altcoins rising in sync with the mainstream.
The altcoin index remains at a medium level, with market sentiment somewhat recovering. Focus on BTC's market share and fiat currency buying signals to determine altcoin launch signals. ETH-related coins are heavily influenced by ETH and can be considered for follow-up. Pay attention to PENDLE, which has a good trend and potential for growth. Binance has been hosting frequent activities, with ongoing Alpha point events where points can be accumulated. Recently, there have been many opportunities to benefit.
Today's Highlights:
BTC has returned to normal levels on 1-hour and 4-hour scales, with the daily level also returning to normal. The intraday expectation is to maintain consolidation, with lower support at 117,500-118,000 and upper resistance at 120,000-121,000.
ETH has returned to normal levels on 1-hour and 4-hour scales, with the daily level entering an overbought zone. The intraday expectation is to maintain consolidation, with lower support at 3,700-3,750 and upper resistance at 3,850-3,950.
