Have a comprehensive understanding of the rise of Bitcoin technology? The U.S.-China trade tensions usher in a major turnaround!

US-China tariff cuts

The Wall Street Journal reported that the United States said it would reduce the "reciprocal" tariffs on Chinese goods from the previous level of as high as 125% to 10%; at the same time, China also agreed to reduce the tariffs on US goods from 125% to 10%. However, the report also pointed out that the 20% tariff and other specific measures imposed by the United States on Chinese goods on issues related to fentanyl will continue to be retained, so it can be seen as some core disputed goods. The two sides agreed to lower the current 145% tariff to 30% level.

In addition, the United States and China have also stated that they will establish a mechanism and platform to continue discussions on economic and trade relations.

Bitcoin technology has entered a "upward pattern"?

Stimulated by the macro positive news that the US-China tariff war has significantly cooled down, the market has seen a judgment that Bitcoin continues to rise. From a technical analysis perspective, a "price upward pattern" (Rally Setup) has shown that Bitcoin's new wave of resistance and target price are likely to be at the water level of US$142,000, because the Bitcoin price may have recently broken through some or several key prices (resistance levels) that have been insurmountable for a long time.

Furthermore, some classic technical patterns that indicate a sharp rise may have been formed on the chart, and the moving averages (Moving Averages) also show strong bullish arrangements, and RSI continues to operate at a higher level, indicating that the market's upward momentum is strong and continuous.

Finally, the market structure of Bitcoin may have been clearly transformed from a previous downward trend or oscillation to an upward trend, manifested as a continuous creation of higher band highs and higher band lows.

Still need to pay attention to subsequent development

It should be emphasized again that the price target is based on the prospect of potential market sentiment based on the macro event-driven and pattern technology. However, in fact, Bitcoin will achieve this goal in the future still depends on the combined impact of a variety of factors, including the continuous improvement of the macro economy, the flow of market funds, and the subsequent actual evolution and confirmation of Bitcoin's own technical chart.

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