Bitcoin and Ethereum Market Analysis (November 3rd): Key Points for BTC and ETH Today
Market Review
BTC remained range-bound yesterday and began to pull back this morning. No significant negative news was observed. The Fed cut interest rates by 25 basis points, but the market showed little reaction. The 4-hour chart still needs correction, while the daily chart shows a recovery with weakening downward momentum. Watch for a potential stabilization. Expectations of a December rate cut are diminishing, and the weekly chart remains relatively healthy.
Bitcoin (2) followed BTC(1) pullback, and the 4-hour chart still needs adjustment, while the daily chart is also undergoing correction.
Altcoins are following the mainstream trend and experiencing a pullback. Wait for altcoins to stabilize before making a move. Binance has been offering frequent events lately, including Alpha Points promotions; you could farm your points and potentially get some freebies.
Today's highlights:
BTC is below the healthy range on the 1-hour and 4-hour charts, and also below the healthy range on the daily chart. Intraday consolidation and correction are expected, with support at 107,000-108,000 and resistance at 111,000-111,500.
ETH is below its healthy range on both the 1-hour and 4-hour charts, and also on the daily chart. A consolidation/correction phase is expected today, with support at 3700-3750 and resistance at 3950-4000.
