Bitcoin and Ethereum Market Analysis on May 7th: BTC, ETH Highlights Today
Market Review
Yesterday, BTC maintained a consolidation, with a healthy trend, slightly rising in the early morning and touching the resistance zone again. Recently, focus has been on fundamental information and the Federal Reserve's interest rate cut process. The upside resistance is significant, with an expected intraday consolidation. The larger cycle market is recovering, and attention is on the golden cross on the weekly chart, waiting patiently
The secondary market followed BTC's synchronous consolidation, patiently waiting for stabilization, with an expected intraday consolidation
Altcoins followed the mainstream synchronous adjustment with limited fluctuations. Once the mainstream stabilizes, light follow-up can be considered. Recently, Binance has been frequently hosting activities, with continuous Alpha point events where points can be accumulated while waiting for the next round of activities. SOL's on-chain activity continues to rise, and more attention can be paid to MEME coins. For existing coins, patience is needed while waiting for market recovery
Today's Highlights:
BTC's 1-hour and 4-hour levels maintain a healthy level, with the daily level also healthy. Intraday expectation is consolidation, with lower support at 95,000-95,500 and upper resistance at 97,500-98,000
ETH's 1-hour and 4-hour levels maintain a healthy level, with the daily level also healthy. Intraday expectation is consolidation, with lower support at 1,750-1,800 and upper resistance at 1,830-1,880
