This market is just DYING for some bad news. It can't even keep itself up in anticipation of it. We are just going to drift lower, bouncing at 2650, 2600, 2555 and going back up each time, until we get some bad news to flush all this out.
The bad news are already out there: May/10 seems to be for real, one Chinese exchange already closed, and the CEOs of the other exchanges apparently can't find anything upbeat to say. Not at all like a month ago, after the Caixin leak, when they thought that they had found workarounds.
I can't see why the price would not go below 2300 CNY (~375 USD) by the end of the week. It got there on Apr/11, on mere
rumors that this would happen...