October 28th Bitcoin and Ethereum Market Analysis: Key Points for Today (BTC & ETH)
Market Review
BTC saw a slight increase yesterday, with the 4-hour chart showing a slight recovery but still needing further correction. The daily chart is showing a warming trend with weakening downward momentum; watch for a potential stabilization. The expectation of an interest rate cut remains unchanged, and further positive factors persist. The weekly chart remains relatively healthy.
Bitcoin (2) is rising in tandem with BTC(1), showing a slight recovery on the 4-hour chart, but still needs consolidation and repair. The daily chart is also in a recovery phase.
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. Intraday consolidation and correction are expected, with support at 111,500-112,000 and resistance at 115,000-116,000.
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 4000-4050 and resistance at 4200-4250.
