8.31 Bitcoin and Ethereum Morning Market Analysis and Trading Suggestions

Morning Analysis: From the 1-hour chart, the Bitcoin price is currently near the middle band of the Bollinger Bands, which are in a converging sideways state, indicating that volatility is narrowing. If the price cannot effectively break through the middle band, it may face resistance in the 109000-109500 area; however, if it can stabilize above the middle band today, there is a chance to surge above 110000.

Ethereum is currently in a state of breaking through the middle band and may continue to oscillate between the middle and lower bands, potentially testing the lower band support again. The Ethereum market began to rebound from noon yesterday, and the rebound continued into the afternoon, reaching the resistance area of 4380-4400 before pulling back. The evening pullback did not break the support level, and from the current 1-hour structure, a typical double bottom pattern has emerged, indicating a short-term rebound. If it breaks through the 4380-4400 resistance area again today, a second rebound will continue, with a key resistance level at 4456; if it breaks and stabilizes above, the short-term bearish trend will be broken.

Trading Suggestions: For Bitcoin, consider buying near the 108000-107700 area, with a stop loss at 107000, targeting the 109000-109500 area; if broken, look towards the 110000-110500 area, and if it doesn't break, consider shorting.

For Ethereum, consider buying near the 4300-4320 area, with a stop loss at 4250, targeting the 4380-4400 area; if broken, look towards the 4456-4580 area, and if it doesn't break, consider shorting.

This strategy is for reference only; please invest cautiously and secure profits. (For real account updates, follow the public account: Ethereum Kai)

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