Master Chat about Hot Topics:

First, let's talk about last night's CPI data, which was higher than expected, but the financial elites on Wall Street questioned the "mistaken" phenomenon of the US CPI data. The market was initially affected and saw a downward trend, with Bitcoin dropping to a low of $67,518, but quickly rebounded to surpass $71,000 in the morning.

Now let's take a look at the changes in ETF data: As of yesterday, on April 10th, 9 Bitcoin spot ETFs (including Grayscale) reduced their holdings by a net of 2,714 BTC, with a net outflow of approximately $187.7 million. Among them, Grayscale reduced its holdings by 4,245 BTC, with a net outflow of approximately $293.6 million, currently holding 318,452 BTC, equivalent to about $22 billion.

BlackRock increased its holdings by 1,868 BTC, with a net inflow of approximately $129.2 million, currently holding 266,102 BTC, equivalent to about $18.4 billion. BITB had a net inflow of $24 million, especially with ARKB Bitcoin spot ETF having a net inflow of $7 million yesterday.

In addition, I believe that the current market is chaotic. This is because the Federal Reserve has intervened in the market too much, on one hand raising interest rates and reducing the balance sheet to tighten the money supply, while on the other hand using various tools to ease monetary policy.

Since it's chaotic, the relatively certain assets in the market are gold, and Bitcoin as well. However, Bitcoin has seen a significant increase in the past six months, so it's normal for it to adjust when the purchasing power of ETF funds weakens.

Therefore, it's highly likely that the first half of the current cycle is coming to an end. The driving force in the second half is likely to be the Federal Reserve's massive easing and restarting of the money printing press, as the demand for monetary over-issuance is needed to drive the market to continue rising.

Master's Trend Analysis:

BTC:

Last night, due to the CPI of Bitcoin exceeding expectations, there was a brief decline. However, after overcoming the adverse factors of the CPI, the price has rebounded to above $71,000.

The reasons for the rise in Bitcoin prices are believed to be due to the buying by US institutions, an increase in miner holdings, and an increase in stablecoin trading volume. The outflow of GBTC has decreased, and the net inflow of institutional investors has increased, so I believe the current rise is reasonable.

Since the price is still above $70,000, I recommend waiting for a pullback before entering a long position in the short term.

The resistance levels on the 4-hour chart can be referenced at $71,370 and $72,140. If the price breaks through the first resistance level, the probability of retesting $72,000 will increase, which is an important resistance level for the bulls. Currently, the trading volume is decreasing during the uptrend, so the likelihood of a breakthrough is small, and it's more likely to see a readjustment before resuming the uptrend.

The support levels on the 4-hour chart can be referenced at $70,850 and $70,260. If the price remains above the first support level, there is a possibility of an uptrend in the short term. Even if it falls below, I won't immediately switch to a bearish view, but will look for suitable long positions in further declines.

If the market falls below the second support level, it can be turned into a bearish view in the short term, and then the uptrend line on the 4-hour chart can be observed. In today's trading, as the short-term uptrend is still being maintained, I personally will continue to hold a bullish view for now.

Furthermore, when trading against the trend in the short term, I suggest ultra-short-term operations. Considering the possibility of significant upward movement followed by consolidation during the day, the position holding time may also be extended. Therefore, please consider risk management and trade cautiously!

ETH: I personally expect Ethereum to continue to challenge the range of $3,600-$3,800 in the next few days, and it also needs to break through and stabilize above the $3,800 level to open up greater upside potential. Currently, Dogecoin and other altcoins are waiting for the breakthrough and stabilization at $3,800 to better open up the upside potential for the overall trend of altcoins.

The support level for the day can be focused around $3,500 on the 4-hour chart, and the resistance level above can first focus on $3,650. It is necessary to break through this level first before continuing to break through the previous high.

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

The long positions set near $67,800-$68,200 for Bitcoin in yesterday's article, after the evening news was announced, Bitcoin dropped to a low of $67,500, and the long positions with the target of $69,000 to $69,400 were perfectly reached before midnight.

The long positions set for ETH around $3,450-$3,490, the market dropped to a low of $3,417 in the evening, and the first target of $3,580 was only reached this morning.

BTC:

Long near $69,100-$69,500, target $70,500-$71,300

ETH:

Long near $3,420-$3,460, target $3,570-$3,600

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, how to get out of a predicament, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication. I hope it can help you find what you want in the cryptocurrency 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 analysis of mainstream coins and altcoins, and spot mid-to-long-term replay price forecasts.

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