Bitcoin hits a new high, is it the start of a rally or a poison for bulls?

To be direct, today’s rise is definitely a poison for bulls! Opening long positions now will only get you buried!
From three points, we can see that Bitcoin has already peaked
1: The MACD double lines are already diverging, the price is making new highs, but MACD is moving downward, which is a typical sign that volume cannot keep up with the price, clearly indicating that funds are no longer supporting the move
2: This round of rally isn’t aggressive enough; the candlestick patterns on April 7 and April 13 show relatively strong bullish attack power, but the subsequent trend is very weak, and trading volume cannot keep up. The trend looks more like a sudden attack, often showing small-scale V-shaped reversals.
3: Ethereum and SOL are not following; a bull market rally would inevitably involve sector rotation and excitement. Currently, mainstream sectors lack funds and can only push Bitcoin, neglecting Ethereum and SOL. This kind of trend without proper order or team operation is very likely to explode directly.
So today’s Bitcoin rise is definitely a trap! It’s poison!
So how should we position ourselves?
First, Bitcoin is very strong, and there are only two strategies to position in Bitcoin:
1: Wait for the pattern; based on this upward pulse, there’s a high probability that the main force will have a second pulse. Be patient and wait for the second dip, and enter when the neckline is broken, forming an M-top.
2: Wait for the key level: 78,400 is currently the most critical support for Bitcoin. If the daily close is below 78,400, it will form a bearish engulfing candle, and the entire rally will be a false breakout, so you can enter directly.
Secondly, position in Ethereum or SOL.
Ethereum’s previous high at 2,460 still has very strong resistance; you can short here.
SOL at 90.5 has strong resistance; you can short here.
For specific operations and profit/loss points, please check the homepage contact.
$BTC $ETH