Cryptocurrency market analysis (8.31): Asian market protects the big cake, US market sells!

The weekend market is mainly repaired, and there are no special events that need to be paid attention to at present. Bitcoin's liquidation is still within the normal range, but the decline of altcoins is somewhat abnormal. There are always reasons for the decline without conventional logic. It is not recommended to use leverage now to avoid the risk of liquidation.

Pay attention to the non-agricultural data next Friday and the expectation of interest rate cut in September. If the market expects a 50 basis point interest rate cut or weak non-agricultural data, these expectations may be digested in advance and the market may rise. On the contrary, if the data is not ideal, it depends on whether the technical side can end the liquidation.

Daily level: Short-term bottoming rebound, limited volatility on the weekend. The bottom support is around 58,500, and the upper pressure is around 61,000.

4-hour level: The market is in a normal oscillating trend. The upper pressure is around 59,500 and 60,200, and the lower support is around 58,000 and 59,000.

Intraday analysis: Bitcoin's recent sharp drop is due to the uncertainty of US politics and economy. It is normal to have a big drop or a big rise and a liquidation. The key is to protect yourself. The intraday decline has begun to recover from the bottom. The weekend market is limited. Focus on altcoins.

In the face of spot market fluctuations, stay calm and get through this challenging moment in crypto history.

Tags:#CryptoMarket#BitcoinAnalysis#Altcoins#Non-agricultural data#Cryptocurrency#Bitcoin#Marketanalysis#Marketforecast#Economicuncertainty#Expectedrate cut#btc#eth #crypto