8.30

This weekend and next Monday (US Labor Day holiday), the US stock market will be closed, and the pace of institutional capital entering the market will temporarily slow down. This round of increase is mainly driven by ETF funds, and once the US stock market is closed, capital will naturally ease.

A meeting will be held on September 16 and 17 to decide whether to cut interest rates.
From a short-term market perspective, non-farm payroll data will be released on September 6. If the non-farm numbers significantly exceed expectations, then there will be no hope for an interest rate cut in September, potentially causing a wave of bearish sentiment. Therefore, the whales will not make any big moves before September 6, and they might even use the data to shake off the market.

BTC
Bitcoin provided everyone with the idea of consolidation and a downward trend yesterday. The market did pull back to the previous range. In the short term, pay attention to whether 107200 can hold. If it can hold, it will consolidate here; if this level breaks, it will go down to 105700. My personal view is that at the current level, whether on the daily or weekly chart, it needs time to recover. Therefore, a big market movement won't come so quickly. Looking at the intraday, if the 110000 position is not broken, it will continue to consolidate downwards, with support at 107200-105600-103500 and resistance at 110000-112000.

ETH
Ethereum is also experiencing a downward fluctuation, and currently needs to repair the daily level chart. If it does not stabilize above 4435 within the day, we will still look down. This position, whether for Bitcoin or Ethereum, needs attention. The fastest way to repair is through a spike. Support is at 4245-4176-4075, while resistance is at 4435-4500.