July 31 Afternoon Market Viewpoint
I. Market Preview
BTC (Big Pie): Expected range 117500-120000, after a short-term pullback, is expected to continue rising.
ETH (Second Pie): Expected range 3820-3950, pulling back to build momentum, still has potential for a further increase.
II. Brief Analysis of Macroeconomic News
Last night, the U.S. ADP employment data and second-quarter GDP data were both better than expected, which theoretically is bearish for the market.
The Federal Reserve maintained interest rates, and Powell's speech was relatively neutral, but the market quickly V-shaped rebounded after a sharp drop, showing strong bullishness and clear support below.
ETH's trend is significantly strong, and it is expected to continue reaching new highs after a pullback.
This morning, the Bank of Japan also announced to keep interest rates unchanged, with no new bearish news.
III. Key Events to Watch (Next 48 Hours)
📍 August 1, 02:00 - Federal Reserve Rate Decision Announcement
📍 August 1, 02:30 - Powell Holds Monetary Policy Press Conference
📍 August 1, 20:30 - U.S. June Core PCE Price Index
📍 August 2, 20:30 - U.S. July Non-Farm Data and Unemployment Rate
📍 August 2, 22:00 - U.S. One-Year Inflation Expectation Final Value
IV. Conclusion
Last night's V-shaped rebound released a strong bullish signal, and currently, there is no obvious bearish news in the fundamentals.
Today's news impact is limited, and the overall bullish outlook remains unchanged, with short-term focus on opportunities for entry after support retests.
