7.31 Market Trend Analysis
Wrapping up and wrapping up~ Last night's wave really caught everyone off guard. Prices didn't drop much, but most people's positions were cleaned out completely. In the middle of the night, gold took a big plunge, and BTC broke through the small low point of consolidation, only to bounce back with increased volume. The Americans are really playing hard with these news-driven market manipulations. The 117 level just can't be broken, and it's likely that we'll have to see a wave of short selling before we can kick off the next rally once panic reaches its peak.
Now altcoins are starting to crash again, and BTC and ETH haven't really plummeted yet. I guess many people are starting to shout again, "Altcoin season, the bull market is here." But don't forget, Powell was not joking yesterday; he first poured cold water on the interest rate cut expectations for September, and then directly criticized Trump's "beautiful tax plan," implying that fiscal stimulus can't save us from the current inflation.
There are several key time points worth paying attention to:
1. Tomorrow marks the end of the monthly candlestick, and the trend may undergo a reversal.
2. Friday night at 20:30, non-farm payroll data, which usually triggers volatility.
3. Next Monday marks the end of the weekly candlestick; whether this wave will soar depends on it.
