December 31st Bitcoin and Ethereum Market Analysis: Key Points for BTC and ETH Today
Market Review
Yesterday, BTC saw a slight rebound with limited volatility and no significant increase in trading volume. The fundamentals have not shown any significant improvement, and a breakout signal is awaited. The overall trend remains bearish, but a rebound is needed. On the daily chart, pay close attention to volume changes and fundamental developments. The weekly chart maintains a downtrend and awaits stabilization.
Bitcoin (2) rebounded in tandem with BTC), but trading volume did not increase. A further rebound is expected. On the daily chart, watch for volume fluctuations. A period of consolidation is anticipated, but the overall trend remains bearish.
The altcoin market is consolidating in sync with mainstream trends, but overall liquidity remains poor. We'll wait for the altcoin market to stabilize before making any moves. Alpha activity points requirements are getting increasingly higher, so we've suspended point farming and will consider restarting it once the requirements decrease.
Intraday Market Analysis
BTC has returned to a healthy range on the 1-hour and 4-hour charts, but is currently below that range on the daily chart. Intraday focus should be on volume changes. Intraday support levels are 87,500-88,000, while resistance levels are 89,000-90,000.
ETH has returned to its healthy range on the 1-hour and 4-hour charts, but is currently below it on the daily chart. Intraday focus should be on volume changes. Intraday support levels are 2920-2950, while resistance levels are 3000-3050.
