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The news that Trump has suspended tariffs for 90 days caused the market data to surge violently by nearly 4,000 points. Trump is clearly playing in the crypto world, first releasing a rumor, then refuting it to create a wave, and after a while, it turns out to be true. The rise and fall all depend on his words; who can outplay him?
From a technical analysis perspective, looking at the market data, the price has formed a secondary high point structure around the $81,000 level on the 4-hour chart. The price shows a typical "step-type" downward trend. Just as the market sentiment becomes cautious, the price once again exhibits strong upward momentum, ultimately forming a distinct W-shaped bottom on the chart. According to the Bollinger Bands indicator, the price is oscillating overall in the range below the middle band, indicating that the market is waiting for further directional guidance. It is worth noting that whenever the price touches the key resistance level of the middle band, a significant suppression effect occurs. In the evening, stimulated by tariff policy, the price demonstrates strong breakout momentum, successfully standing above the middle band and challenging the upper band. As of the current period, the price is hovering below the upper band, which indicates that the market may be accumulating new momentum. Considering the technical overbought pressure brought about by the recent rapid rise, a necessary correction and consolidation are expected during the early morning hour future is "HOT"