April 27 Market Analysis: High-Level Fluctuations Approaching Reversal

Bitcoin experienced a slight rally of about 1.3% in the morning, and many began to anticipate a breakthrough of 80k, even considering chasing longs, but I do not agree. This rebound is mainly due to three reasons:
1: Short positions at low levels were concentrated and wiped out, driving short-term buying follow-through, which is a technical correction;
2: The overnight performance of the US stock market was stable, and the weakening dollar provided support;
3: The range-bound fluctuation lasted too long, the selling pressure phase is temporarily exhausted, and capital is betting on a rebound.

Technical Analysis

The daily MACD remains above the zero line, but the red histogram continues to shrink, indicating that bullish momentum is gradually weakening, and the market may enter a consolidation phase;

The 4-hour RSI is approaching the overbought zone, and the MACD at high levels is losing momentum, showing typical "fish tail" characteristics, with increased risk of chasing highs. #以太坊基金会解质押约4890万美元ETH

Summary
Currently at the end of high-level fluctuations, bulls and bears are about to choose a direction. Do not blindly chase highs, and pay attention to risk control.