The rally of bitcoin above $97,000 could be attributed to China's policy.

Today, bitcoin rose above $97,000, gaining 2.4% for the day and thus rebounding from the March lows of about $74,000. On May 7, the head of the Chinese bank, Pang Gongsheng, announced a 0.1% reduction in the rate of profit. As a result, about 1 trillion yuan, or $138 billion, will be issued per market. The main liquidity injection is usually used as a useful mechanism for bitcoin in two main areas. First, lower rates and softening of the denet-credit policy weaken fiat currencies, encouraging investors to seek alternative savings such as BTC. On the other hand, Chinese investments and investments have a low income, so the crisis can be used to make special demands from local and international investments that are waiting for a higher value. In the current trend, bitcoin is approaching a significant match near $98,000, with Fibonacci from a minimum of $74,427 to a maximum of $98,006. BTC has already raised Fibonacci at 0.618 at $86.217 and 0.382 at $88.999, which indicates a strong bullish impact. The level of 0.236 at $92,442 will be in the quality of support, and the prices are slightly lower than the horizontal maximum. The MACD is in a bullish temperature, although the histogram prevents the extinction of the impact. The Main Line and the MACD Line will begin to converge, which will lead to a change in the event that the bullish power does not gain strength in the near future.