Market Review
Yesterday, BTC continued to rise, briefly breaking through 93,000, and then quickly retreated. BTC has seen significant volatility recently, with trading volume constantly increasing and retail investors entering the market. The market sentiment is relatively high, and the short-term rally has been rapid, requiring adjustments and consolidation. It is expected to continue consolidating during the day, with attention on the 86,000-87,000 support level. Currently, the Greed Index has surged, and it is suggested that BTC holders start to reduce their positions to control risks, as the daily and weekly timeframes have entered overbought territory, and a correction is expected. Investors should pay attention to changes in market sentiment and reduce positions to avoid risks. The long-term trend remains bullish. ETH also followed BTC's consolidation yesterday, and it is expected to continue consolidating during the day, with attention on the 3,100-3,150 support level. Altcoins have followed the mainstream correction. It is suggested to hold SATS patiently, and consider closing the position around 50. PEOPLE has recovered from the previous market, and there was no significant increase during the election period, so those who have exited can consider holding it again. FTM is recommended to be held, and the new altcoin ACT can be considered for follow-up, as it is expected to have good upside potential.
Highlights for Today:
BTC: The 1-hour and 4-hour timeframes are above the healthy level, and the daily timeframe has entered the overbought zone. It is expected to consolidate and fluctuate upwards during the day, with the long-term trend remaining bullish. The downside support is at 86,000-87,000, and the upside resistance is at 91,000-92,000.
ETH: The 1-hour and 4-hour timeframes are above the healthy level, and the daily timeframe has entered the overbought zone. It is expected to consolidate during the day, with the downside support at 3,100-3,150 and the upside resistance at 3,300-3,350.
