After the release of CPI last week, expectations of interest rate hikes soared, and geopolitical risks intensified over the weekend, causing BTC and U.S. stocks to plummet.

At the same time, today is the US tax limit, ETF funds are also flowing out, and hot money is being withdrawn frantically. The good news is that the Federal Reserve will slow down the balance sheet reduction in May, and the corresponding ETF in Hong Kong will also be launched in early May. It seems that the downward momentum will slow down in May.

It is worth noting that after this round of sharp drop, DeFi is suffering from the double blow of negative news and pledge liquidation. Currently, the founder of CRV has pledged 370 million coins and is facing the risk of liquidation.

A liquidation of small funds will cause you to lose money, while a liquidation of large funds will easily push prices down further and cause others to lose money. Pay attention to controlling the CRV leverage coefficient.

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BTC：

Only one week before the halving, BTC has risen and then fallen, entering a trend of bursting and bottoming out.

A huge amount of options will expire today, corresponding to BTC entering a triangle convergence trend. Long and short positions are heating up. Pay attention to the breakthrough trend. BTC rebounded along the 5-day line and the hourly line continuously inserted needles. It faces selling pressure from the resistance line above and needs to test the high point multiple times. The upper $71,448 is the key point of the resistance line. BTC needs to break through $71,448 with large volume to enter a new round of short squeeze. Next, BTC will rise and test $71,448.

Resistance: 66673, 68845, 70124

Support levels: 63632, 61568, 60234

ETH：

There are many large transfers of ETH into Coinbase, which has played a role in the expected selling pressure on ETH. The top of the hourly line keeps decreasing, indicating that it is facing resistance. The upper $3224 is the key point of the resistance line. ETH needs to break through $3224 in large volume to quickly pull up. Next, ETH fell back at $3224.

Resistance: 3224, 3345, 3457

Support levels: 3033, 2932, 2814