Bitcoin and Ethereum Market Analysis on August 23: What to Watch for BTC and ETH Today
Market Review
Yesterday, BTC rose significantly due to Powell's dovish remarks. The 4-hour trend returned to a healthy state. The expectation of a September interest rate cut increased significantly, and market confidence was greatly boosted. The bullish trend continued. The daily level trend remained healthy, and the downward momentum began to weaken. The weekly trend remained healthy. Pay more attention to fundamental information and the progress of the Fed's interest rate cut. The intraday expectation continues to rise. In terms of the big cycle, a new round of weekly rising cycle has started.
The two cakes rose synchronously with the BTC, breaking through the historical high in a short time. The 4-hour increase was large, but the fundamentals were relatively strong and it was expected to continue to rise. The daily level remained healthy, but there was a slight deviation. The impact was not significant at present, and it was expected to continue to rise during the day.
The altcoin market rose synchronously with the mainstream market, and the altcoin index slightly pulled back. Market sentiment is still not high. Pay attention to the BTC market share, the fiat currency buying signal, and the altcoin launch signal. ETH-related currencies are more affected by ETH. PENDLE can continue to be held. Binance has frequent activities recently, and Alpha points activities are continuous. You can brush up your points and get some bargains.
Today's highlights:
BTC 1-hour and 4-hour levels have returned to the healthy range, and the daily level has returned to the healthy range. It is expected to continue to rise during the day. The lower support is 115000-115500, and the upper resistance is 118000-119000.
ETH 1 hour, 4 hour level is above the healthy range, the daily level is above the healthy range, and it is expected to continue to rise during the day. The lower support is 4600-4700 and the upper resistance is 4900-5000.
