7.31 Market Trend Analysis

Ending with a bang, last night's wave really left people dazed. Prices didn't drop much, but most people's positions were completely washed out. In the middle of the night, gold took a big plunge, and BTC broke through its small support level, then surged back with volume. The Americans played a tough game with news to wash out positions. The 117 level has always been hard to break, and it's highly likely that we'll see another wave of shorts being killed, waiting to fill the panic before launching.

Now altcoins are starting to crash again, while BTC and ETH haven't really sold off yet. Many people are likely starting to shout, 'Altcoin season, the bull market is here.' But don't forget, Powell wasn't joking yesterday. First, he poured cold water on the September rate cut expectations, then directly criticized Trump's 'beautiful tax plan,' implying that fiscal stimulus won't save us from the current inflation.

There are several key time points to pay attention to:

1. Tomorrow marks the end of the monthly chart, which might bring a turning point.

2. Non-farm payroll data on Friday at 20:30, which usually causes volatility.

3. Next Monday ends the weekly chart, and whether this wave will soar depends on it. #比特币 #美联储利率决议