1.9 Bitcoin and Ethereum Market Analysis: BTC, ETH Highlights Today

Market Review

Yesterday, BTC continued to decline, with no obvious bearish fundamentals, and the drop was greater than expected. Currently, the downward momentum has not significantly weakened, and it is advised to continue observing today, waiting for stabilization before taking action. Key support has not been broken, the trend remains, and expectations for a new round of upward cycle are still present. Maintain confidence. Ethereum also followed BTC with a synchronous decline, with a slightly greater than expected drop. Currently, the 4-hour level has entered the overbought zone. A rebound is expected today, but it is still advised to wait for stabilization before taking action. Altcoins are following the mainstream with a synchronous decline. Observing today, waiting for a new round of upward cycle. For already held coins, POLYX can continue to be held, and ACT should be maintained.

Highlights Today:

BTC: The 1-hour and 4-hour levels are below healthy levels, while the daily level has returned to a healthy level. Today, a consolidation is expected; observe and wait. The long-term expectations have not weakened. The lower support today is 93000-93500, and the upper resistance is 95000-95500.

ETH: The 1-hour and 4-hour levels have entered the oversold zone, while the daily level has returned to a healthy level. A slight rebound is expected today, but it is still advised to wait for stabilization before taking action. The lower support today is 3220-3270, and the upper resistance is 3370-3430.