Analysis of BTC and ETH market on August 31:

Today's highlights

BTC: 1-hour and 4-hour levels are below healthy levels, and the daily level is below healthy levels. In the consolidation stage, the daily level trend is still there. Pay attention to the support of 58,000. The big cycle continues to be bullish. The lower support is 57,500-58,000 during the day, and the upper resistance is 60,800-61,300. It is expected to continue to rebound during the day, but pay attention to the support of 58,000. If it falls below 58,000 and fails to recover quickly, the market will weaken.

ETH: 1-hour and 4-hour levels are below healthy levels, and the daily level is below healthy levels. The trend is slightly better than BTC. BTC/ETH has shown obvious divergence, and it is expected to continue to rebound. The upper resistance is 2580-2630 during the day, and the lower support is 2400-2450 during the day. It can continue to follow up if it pulls back to the support level today.