Crypto Assets Market Analysis (8.31): Asian Session Protects Bitcoin, U.S. Session Sells Off!

The weekend market is mainly in a corrective phase, and there are no specific events to pay special attention to at the moment. The liquidation of BTC is still within the normal range, but the decline in AltCoins is somewhat abnormal. There is always a reason for the decline without regular logic. It is not recommended to use leverage now to avoid the risk of getting liquidated.

follow next Friday's non-farm payroll data and the interest rate cut expectations in September. If the market expects a 50 basis point cut or weak non-farm payroll data, it may digest these expectations in advance and drive a pump in the market. Conversely, if the data is not ideal, it will depend on the technical aspect to see if the liquidation can be concluded.

daily candlestick level: Brief Rebound at the bottom, limited Fluctuation over the weekend. The support at around 58500 at the bottom, and the pressure near 61000 above.

4-hour level: The market is in a normal oscillating trend. The resistance above is around 59500 and 60200, and the support below is around 58000 and 59000.

Intraday Analysis: The recent big dump of BTC is due to the uncertainty of US politics and economy. Big dump and big rise are all normal, the key is to protect yourself. The fall is starting to recover at the bottom, with limited market conditions over the weekend, focusing on altcoins.

In the face of Fluctuation in the Spot market, stay calm and get through this challenging moment in the history of encryption.

Tags: Bitcoin Analysis Non-Farm #btc eth #crypto