Bitcoin’s 4-hour head-and-shoulders top pattern has basically formed, and the signals for a trend reversal are clearer than ever. Structurally, this is a textbook-level reversal signal.

79444 is the absolute resistance level of this round’s rally; repeated attempts to push higher have failed, and the bulls’ momentum has been completely exhausted here.

The rebound on the right side can’t break above the head’s high, and the highs are gradually moving lower—indicating that buying power is continuously weakening. The bulls are only “putting on a show” to maintain the illusion of an uptrend.

The 76500-77000 range is the lifeline of the head-and-shoulders top. Once it breaks, the downside room will be fully opened.

Suggested action: Go short around 78000, target 77000-76000; if a breakdown occurs, continue to look for 75000.
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