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Trump's visit to China has fully run its course, following the usual pattern of rising first and then falling?
Yesterday, the yellow-haired guy's convoy of 7 planes flew to China, truly impressive, with a two-day negotiation scheduled from the 13th to the 15th. If following previous precedents—like Trump's 2017 visit to China, where US stocks and cryptocurrencies surged sharply beforehand, then all gains were wiped out in a big downward move after the visit—this time may not be exactly the same, but it's better to be cautious. Today, pay attention to the CPI data release at 8:30 PM!
BTC
The current market is in a high-level consolidation, with highs gradually decreasing and lows gradually rising. On the hourly chart, there is a divergence between volume and price forming a symmetrical triangle pattern. Watch the 8030 level at the bottom of the triangle; a decisive break below this level will trigger a four-hour correction. Conversely, if volume breaks through 8170, then we should wait around 8280 for a potential breakout.
In the 8160-8200 range, with a defense at 8290, a break below 8030 targets 7910-7800.
ETH
In the 2332-2348 range, with a defense at 2385, the target is 2292-2260. A break below points to 2212.