October 24th Bitcoin and Ethereum Market Analysis: Key Points for Today (BTC & ETH)
Market Review
BTC continued to consolidate yesterday. The 4-hour chart showed a slight recovery but still needs further correction. The daily chart is showing signs of warming up, with downward momentum weakening. Watch for a potential stabilization. The expectation of an interest rate cut remains unchanged, and further positive factors are still expected. The weekly chart remains relatively healthy.
The second coin is consolidating in tandem with the BTC. The 4-hour chart shows a slight recovery, but further consolidation and repair are needed. The daily chart is also undergoing repair.
Altcoins are consolidating in tandem with mainstream cryptocurrencies, and the altcoin index is showing a slight recovery. It's advisable to wait for altcoins to stabilize before making any moves. Binance has been offering frequent events recently, including ongoing Alpha Points promotions; consider accumulating points to potentially earn some freebies.
Today's highlights:
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. A consolidation and correction is expected today, with support at 108000-108500 and resistance at 111000-112000.
ETH is below its healthy range on both the 1-hour and 4-hour charts, and also on the daily chart. Intraday consolidation and correction are expected, with support at 3750-3800 and resistance at 3900-4000.
