Master Chat Hotspot:

In the past 24 hours, the data of Bitcoin spot ETF is likely to be the best data of the week, after all, the ETF data on every Friday before was relatively low. As of last night, there was no sign of large-scale transfer of Bitcoin on the exchange, only three transactions totaling more than 2000 BTC were transferred in, and no signs of consumption have been found.

In fact, the current market status is not a game of emotions, nor is it a game of information, it is completely a game between selling Bitcoin and buying. What I understand is that if 100 BTC are sold, but only 10 are bought, the price will drop. If 1 million BTC are sold, but 2 million are bought, the price will rise.

Returning to the data itself, BlackRock and Fidelity reached the highest net inflow of ETFs on Thursday, although neither of them individually was the highest during the week, but the combined data is still good, which also indicates that investors' emotions have improved with the change in BTC price.

So whether it really improves user sentiment, we still need to look at the ETF data next Monday, and the ETF itself will also be affected by the price of Bitcoin, so the market is likely to remain volatile over the weekend.

In addition, last night's non-farm data, apart from the adjustments made by the US Bureau of Labor Statistics, the employment data is bad regardless of whether it is good or bad. It's just bad now, or it will be bad in the future.

At first glance, the current non-farm data looks good, with the unemployment rate dropping to 3.8%, still at historically low levels, and non-farm employment continues to rise, indicating a prosperous US economy. What good data, but this "good data" turns into "bad data" that allows the Fed to continue waiting for inflation.

Defensive rate cuts and high interest rates really have a significant impact, and why the risk market hopes for rate cuts. So when the data tends to indicate that the Fed is not considering a rate cut for the time being, the market will not look good. The market is already expecting the Fed to cut rates three times in 2024, including the expectation that there will be no rate cut in June.

But even with expectations, there will be a reaction. The US non-farm data has been revised again, and the expectation of a rate cut has been suppressed. It really doesn't fit the saying that only an economic recession can make the Fed cut rates.

Master's Trend Analysis:

BTC: The market broke through 68000 yesterday and then experienced a pullback. The back and forth range oscillation in these two days is normal. It is likely to occur as the halving approaches. The key is whether it can stand firm after the surge.

If the upper space wants to open, it must stand firmly above 68500 to continue to rise above 70000. For the daily and short-term, pay attention to the resistance levels at 69000, 69680, and the support levels at 65380, 66000.

ETH: For ETH, pay attention to the resistance levels at 3400, 3455, and the support levels at 3210, 3125.

4.6 Master's Short-term Pre-set Orders:

BTC:

Short reference: 68500, 69300

Defense: 69500

Target: 66500-65500

Long reference: 66500, 65800

Defense: 65300

Target: 67500, 68000

ETH:

Short reference: 3355, 3400

Defense: 3420

Target: 3270, 3220

Long reference: 3270, 3230

Defense: 3200

First target: 3330, 3350

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you need to know more about real-time investment strategies, untangling, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication, hoping to help you find what you want in the currency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% follow the trend; daily updates on macro analysis articles across the network, technical indicator analysis of mainstream coins and altcoins, and spot medium and long-term replay price prediction videos.

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