$BTC April 27, Monday morning Bitcoin and Ethereum latest ideas and analysis

Reviewing Sunday, Bitcoin experienced a day of sideways consolidation before rallying in the early session, reaching a high of 78,961. Ethereum continued its upward trend on Sunday, and after a recent correction, it has basically synchronized with Bitcoin’s movement, with an early high of 2,380.

Lao Lei is watching the four-hour chart closely, feeling quite uneasy. Don’t be fooled by the current quote around 70,000 to 78,000; this small increase on the chart looks more like the last gasp of a dying horse rather than a rally signal. The candlesticks on the chart have already clearly flattened out, the attack angle is becoming duller, and it’s obvious that a rounded head pattern is forming. The most critical point is volume. These few bullish candles are supported by shrinking volume bars underneath, a typical sign of a no-volume rally driven by short-term floating capital. What does this mean? It indicates there’s no genuine buying interest; it’s just short-term traders hyping themselves up. Looking at the MACD indicator, the DIF line has already turned downward, about to cross below the DEA line, with the red histogram bars shrinking almost to invisibility. Once this death cross at a high level is confirmed, the selling pressure will come down quickly.

Indicators can deceive, but funds won’t. I judge that the main force is just shaking out in this platform range, and after distributing, they will most likely test the real support below. Don’t be fooled by that small increase on the chart; at this stage, controlling your position and managing risk is far more important than chasing this fleeting rally.

Morning trading ideas:
Bitcoin around 79,000 can be shorted, target 77,800
Ethereum around 2,380 can be shorted, target 2,320