Master Chen's Hot Topics:

Although the ETF fund inflow situation is good, the market seems to have some hidden risks. The upward trend has not emerged, and there are also some apparent negative factors. For example, a U.S. judge allowed the SEC to continue to accuse CB of operating unregistered securities business, implying that CB is indeed illegally engaged in securities business. This means that some coins on CB are securities, or there are securities attributes in the pledge business.

Of course, BlackRock also boosted ETH in time, saying that even if ETH is classified as a security by the SEC, spot ETFs may still be approved. The overall altcoin market is also undergoing a pullback with the overall market. The exchange rate of Ethereum to BTC continues to fall below 0.051, and has now reached the rebound point of 0.05.

However, the current trend of ETH is still very weak, with no signs of strength. This may also be related to the negative factors surrounding ETH. One is that the SEC is persistently targeting CB, wanting to classify all cryptocurrencies except BTC as securities. Another is that major institutions are exploring the probability of spot ETF approval in May. In the past month, the negative premium of Grayscale ETHE has increased significantly, from the lowest point of 8.17% to the current 24.2%.

This clearly indicates that the market is becoming increasingly pessimistic about the approval of ETFs. Of course, this does not mean that major institutions have given up. Fidelity has submitted the ETF s-1 form to the SEC as usual, including ETH collateral. BlackRock also said that even if it is determined to be a security by the SEC, there is still a chance of approval.

In addition, there are three pieces of news today that may affect the market trend: First: Massive BTC options expiration. Today is the quarterly expiration date for options, with 41% of BTC options and 46% of ETH options expiring, with a total value of over $15 billion, which may have an impact on the market.

Second: PCE data release. PCE data will be released at 8:30 tonight. If it is higher than expected, it will be negative. PCE stands for Personal Consumption Expenditures, which the Federal Reserve attaches great importance to. Through PCE data, the Fed understands people's consumption habits, whether there is any tightening, and more importantly, PCE also includes the PCE price index, which shows whether people's cost of living is rising or falling, which has a significant impact on the Fed's control of inflation or employment.

Third: Powell's speech. Fed Chairman Powell will deliver a speech at 11:30 tonight. If he continues to insist on the view that interest rates will be cut three times this year, it will be positive. If his attitude changes, it will be negative, so what everyone needs to do is to control their positions. Investment must be flexible, and one must learn to judge the direction and follow the trend, as the only constant is change itself.

Master Chen's Trend Analysis:

BTC: The market closed with a solid bullish candle yesterday, which, according to the daily closing level, indicates a potential push towards the high point. Especially considering that the current price is only a line away from the previous high, if there is an increase in volume, attention should be paid to whether the volume will break through the previous high point today.

On the four-hour level, pay attention to the high point near 72500. If it breaks through, the previous high can be directly targeted. Also, pay attention to the range of 76000-80000. As long as the volume intensifies today, this range will also be reached. The intraday support level to watch is the range of 68000-69500.

ETH: In comparison to the overall market, the performance of the past two days has been relatively weak. The current support level is still around 3500. Yesterday happened to be the rebound within the range of 3460-3500 that I provided, and the short-term resistance at 3700 has not been broken through.

The current resistance level remains at 3800. As long as it breaks through and stabilizes at 3800, attention should be paid to the range of 4200-4500 above.

Master Chen's Short-term Pre-set Orders on 3.29

BTC Trading Suggestions:

Long near 70000-70400, target 71300-71600

ETH Trading Suggestions:

Long near 3510-3550, target 3610-3645

**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 knowledge of candlesticks, you can add Master Chen for learning and communication. I hope to 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% following the trend; daily updates on macro analysis articles across the web, technical indicator analysis of mainstream coins and altcoins, and long-term and mid-term replay price prediction videos. Friendly reminder: Only the column public account (as shown in the image above) is written by Master Chen. The end of the article and other advertisements in the comment section are not related to the author. Please be cautious in distinguishing between true and false. Thank you for reading.

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