Master Chat Hotspot:

In recent days, the market has been continuously declining, and many investors have begun to question the end of the bull market. However, I believe this is just a temporary market adjustment. First of all, Bitcoin has not yet experienced its halving. Historical data shows that the real bull market often starts 2 to 3 months after BTC halving.

The current market phase is obviously earlier than this time point. If the market continues to rise now, then after BTC halving, its increase may be even more astonishing. Therefore, the current decline is more likely the market accumulating strength for a future surge.

Secondly, the Federal Reserve has not yet cut interest rates. The previous market's rise was largely driven by the enthusiasm for ETFs, and individual investors have not fully entered the market. As the enthusiasm for capital retreats, market adjustments are a normal phenomenon. After all, savvy investors always hope to absorb chips at lower prices in preparation for larger future gains.

Yesterday, the performance of the Bitcoin ETF was slightly better than the previous two days, with a net outflow of funds of only $94 million. Although Grayscale GBTC still had a sell-off of $358 million the night before, BlackRock also increased its buying strength, with an inflow of $233 million. If Fidelity can contribute, the funds may turn into inflows.

In any case, the ETF market has also improved to some extent. After all, the net outflow of funds for the previous three consecutive days was $154 million, $326 million, and $261 million, but it is already a good performance.

In addition, the SEC has postponed the decision on the Grayscale Ethereum Futures Trust ETF application to May 30. I mentioned this in my articles in the past two months. The probability of the Ethereum spot ETF being approved in May this year will be higher, and most of the applications before May will be delayed.

The Bitcoin ETF is the first pilot, and it will only be followed by the second, third, and Nth cryptocurrency ETFs if the market response is very good. The popularity of the Bitcoin ETF indicates that the Ethereum ETF will definitely be approved this year.

Master's Trend Analysis:

BTC:

The overall market is once again testing the low support level for a rebound, and it is currently likely to have a volatile market. In other words, the market needs this kind of trend to stabilize the current market, and it also needs a volatile trend to allow altcoins to perform strongly.

The current support level of the overall market is once again testing the support level of 62,000 points. Over the weekend, everyone can pay attention to the short-term resistance level of 68,000. The key level remains unchanged, continue to focus on the position of 70,000, and pay attention to the support level near 63,000 on the intraday level.

ETH:

On the four-hour level, the short-term resistance level for ETH is currently around 3,600, which does not need to be changed. Everyone can continue to focus on this short-term resistance level, and the effective resistance level is at 3,800. Only by breaking through and stabilizing this key position can the larger space above be opened up. The current short-term support level can continue to focus on around 3,280-3,300.

In this round of trends, I personally hope that BTC and ETH will continue to oscillate for a period of time, giving some altcoins in the current market time and performance for an upward surge.

More strategies can be added to the live account

Candlesticks are king, trends are emperor. I am Master Chen, focusing on BTC, ETH spot contracts for many years. There is no 100% method, only 100% follow the trend; daily updates on macro analysis articles and technical analysis review videos across the web. Friendly reminder: This article is only written by the author's official WeChat account (as shown in the image above), and other advertisements at the end of the article and in the comments section are not related to the author. Please discern carefully between true and false, thank you for reading.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。