BroadChain learned that at 08:30 on April 24, according to Bitcoinist, Bitcoin's price recently broke above $78,000, but technical analyst Minga pointed out that this move left an unfilled price imbalance (imperfection), and the market typically tends to revisit such gaps. On the 4-hour chart, Bitcoin is forming a head and shoulders pattern, with the left shoulder and head completed, and the right shoulder may peak in the $76,800 to $77,400 area (red rejection zone).
If the pattern completes, it will signal a shift from upward momentum to distribution, with the neckline near $73,000, coinciding with the recent upward trendline. The key downside level is the previous month's high of $76,053; if this level is broken, the target points to the $70,450 liquidity zone. Conversely, if it fails to break below $76,053, the bearish scenario is invalidated, and the price may again test the monthly imbalance zone above $79,000.
As of press time, Bitcoin is reported at $77,640.