It's not easy to submit today's homework. If the market fell yesterday, I still have some confidence. Today's decline has made many people surrender, and the reason for the decline is believed to be the "falsification" of employment data or a serious downward revision leading to an expected economic downturn. I don't know if this is the truth, but from my personal perspective, I don't agree with whether this is the beginning of a bear market or the beginning of a continued decline. Of course, I may not be right. The reason is that the current market support is still Trump's tariff policy and the Federal Reserve's monetary policy. If the economy weakens, it is the Federal Reserve's interest rate cut. Although there may be risks, there have been many calls for economic risks from last year to this year. Even the Federal Reserve itself has said that it should be careful about the risks of economic downturn. This risk does exist, but the probability of its eruption is not very high, at least I think so. After all, the United States has not seen systematic risks, just because the employment data thinks that the economic downturn is a bit far fetched. Especially for Trump, the economic downturn is just the first year in office, which is a proper slap in the face. The big and beautiful bill aims to abandon the long-term and stimulate the short-term economy. Investment in the AI industry is just beginning, and easing measures for the cryptocurrency industry are also underway. Even forced renewal may continue for a period of time. So in the face of this situation, there are two things we need to do. The first is, if we determine that this is just a callback, then where is the bottom? From the continuously released data, firstly, the URPD gap is $112000. I have mentioned this gap countless times before, and it will definitely be filled. It's just a matter of when it will be filled, maybe this time. At present, there are two support levels, namely $103500 to $108500 and $93500 to $98500. Although the stability of the first range is not so strong, as there are many short-term investors, it should not fall below this range if there is not too much bearish sentiment. The stability of the second range is much stronger, and even if it falls below, it should be able to recover quickly. Overall, I don't think there is a systemic risk at the moment. Although there has been a significant increase in turnover rate, this magnitude of decline occurs almost every month. Within two months, there was also a decline of this level due to the argument between Ancient Whale and Chuanma. Moreover, even the initial concern about currency policy led to a return to the support of $93500 in a relatively short period of time, so I still have some confidence. At present, I am slightly worried about the weekend. After the weekend, the focus of next week may be the resignation of the Federal Reserve's director position. Trump should be able to give a nomination before August 8, so Trump's influence within the Federal Reserve will expand to three voting committees, which is also good news for the market. Data address: https://docs. (google.com)/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit? usp=sharing This article is sponsored by Bitget | @ Bitgetzh