Market analyst Aksel Kibar suggests that Bitcoin could reach a price target of $80,000 if a head and shoulders top chart pattern materializes. The recent Bitcoin rally saw a breakout above $73,700, which acted as a crucial level. However, a pullback is seen as a test of the breakout's validity, and if the head and shoulders formation continues, $80,000 could be a potential downside target. Kibar highlights the convergence of technical and behavioral indicators as a key factor in his analysis. Key support levels at $91,000 and $87,000 must be held to avoid a more significant retracement. The future of Bitcoin relies on technical factors and overall market sentiment.



Other News from Today