Market Review
Over the weekend, BTC surged again with increased trading volume, currently breaking through 89,000 and setting a new high. The short-term trend remains very strong, significantly exceeding expectations. Recently, focus on fundamental information, as the current technical indicators have become invalid. The expectation of a continued oscillating upward trend remains unchanged. The greed index has soared, and it is suggested that BTC holders start to reduce their positions to control risks. The daily chart has entered the overbought zone, and the weekly chart has also entered the overbought zone. Expect a relatively strong correction, pay attention to changes in market sentiment, reduce positions to avoid risks. The long-term trend remains bullish. ETH followed BTC's synchronous rise yesterday, continuing to catch up, having already broken through 3,300. After a slight correction yesterday, it quickly recovered, and it is expected to continue catching up during the day, with a target of 3,500. Altcoins have followed the mainstream to rise synchronously. It is recommended to hold SATS patiently, and consider clearing the position around 50. PEOPLE has repaired the previous trend, without a significant rise during the election period, and those who have sold may consider continuing to hold. Maintain holding FTM, and the new altcoin ACT is recommended to establish a position, as it is expected to have good upside potential in the future.
Highlights for Today:
BTC: The 1-hour and 4-hour charts have entered the overbought zone, and the daily chart has also entered the overbought zone. Expect a correction during the day with an oscillating upward trend, but the long-term expectation has not weakened. The downside support is 86,000-86,500, and the upside resistance is 89,500-90,000.
ETH: The 1-hour and 4-hour charts have entered the overbought zone, and the daily chart has also entered the overbought zone. It may continue to catch up during the day. The downside support is 3,200-3,250, and the upside resistance is 3,450-3,500.
