Master Chat about Hot Topics:

The recent market trend can almost be described as "mixed feelings". Two days ago, the price of Bitcoin rebounded to around 72990, and yesterday there was a significant fluctuation. Early this morning, the price dropped to around 68210.

Master believes that firstly, it is because the Bitcoin spot ETF has once again experienced net outflows, and secondly, the globally anticipated US CPI data will be released tonight, and the minutes of the Federal Reserve's March meeting will also be released early tomorrow morning.

These events all involve the issue of when the Federal Reserve will cut interest rates. However, judging from the continuous increase in Bitcoin holdings by whales and institutions, these factors seem insufficient to affect the upward trend of Bitcoin prices.

In the previous period, Bitcoin relied on negative data from the US to wash the market and then oscillated within a large range for almost a month. It has finally come to the moment of decision, and the timing is very delicate. Because it is nearing the halving point, according to past experience, it is expected to decline before the halving, but this time may be a bit different.

Firstly, whether the Federal Reserve cuts interest rates or delays, it will not change the overall direction of the bull market, although the process may be full of uncertainty. But the outcome will definitely be good, there is no doubt about this. In a bull market, being concerned about short-term negative news is useless and easily affects one's mindset. Currently, it is only the Federal Reserve cutting interest rates + halving + ETF support, and only one of these has been implemented. With this expectation, it is highly probable that one will not be misled.

I believe that no matter how bearish the news is, it will always rebound in a bull market. On the other hand, experiences in the past bear markets are always filled with pessimism, and no matter how bullish the news is, it always falls back. Everything is cyclical.

Master's Trend Analysis:

BTC:

Firstly, we need to pay attention to today's CPI index release. If the actual data exceeds the expected value, Bitcoin may further decline.

The first resistance level on the hourly chart is near 69040, and the second resistance level is at 69500. The current price is also retesting the first short-term resistance level. If it breaks through $69000 within the day and stabilizes, then we can maintain a short-term bullish view and may re-break the downtrend line.

We also need to see if the price can stabilize above $69000 within the day. If the downtrend line is broken, then I will continue to maintain a rebound and bullish view.

The first support level is around 68600, and the second support level is near 68200. The first support level is the previous low point of the double bottom pattern. It is currently preliminarily judged that the price has held this position, but if it falls below this range, a larger decline is expected. At the same time, this position is also an important area for the conversion between long and short positions.

If the market falls below the short-term support after, the target for the short position will be below $68000. For today's short-term trading, since the current position has held the previous low point, we can temporarily maintain a rebound view.

However, due to the resistance near the downtrend line, if there is no trading volume near the trend line, the short-term downtrend will increase. Therefore, while maintaining a short-term rebound view, we also need to pay attention to the risk of a decline.

In today's trading, we can also use the daily 20-day moving average as an important support level for trading. Since the price is still at a low point, Master will temporarily maintain a rebound view.

ETH: After reaching a new high on the second day, Ethereum began to retreat. Currently, as long as it does not stabilize above 3800, it will continue to accumulate below. Otherwise, it will be difficult to open up space above. The support level is currently focused on the 3450-3500 range within the day. The first resistance level above is at 3600, and the second resistance level is at 3650. The main important checkpoint above is still at 3800.

Master's Short-term Pre-set Orders on April 10:

BTC:

Long near 67800-68200, target 69000-69400 (to prevent late-breaking news)

ETH:

Long near 3450-3490, target 3580-3600

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you need to learn 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. I hope 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% going with the trend; daily updates on macro analysis articles across the web, technical indicator analysis of mainstream coins and altcoins, and spot mid-to-long-term replay price prediction videos.

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