Bitcoin prices have risen sharply on optimism over a trade meeting between US President Donald Trump and Chinese President Xi Jinping on October 30. Investors expect the talks to ease tariff tensions and boost global liquidity.
Bitcoin has broken through a descending channel and is currently trading around $115,000, up 2.34% in the last 24 hours. The main resistance is at $117K, while the technical target is set at $125K. Analysis shows that the uptrend remains healthy with support at $112K.
The DMI indicator shows buying dominance with +DI well above –DI, and a stable ADX indicates that the trend is still strong with no signs of fatigue. Trading volume also supports the bullish momentum, increasing during price increases and decreasing during price corrections.
Analysts say Trump’s tariff reduction announcement could be a macro catalyst that strengthens the crypto market. A close above $121K would open the way for a test of $125K, while a failure to reach an agreement could keep the price between $112K–$117K.
The combination of positive technical factors and favorable geopolitical sentiment suggests Bitcoin has the potential to continue its rise. As long as $112K holds, the uptrend remains intact ahead of the Trump–Xi summit.
