Summary
- Chart analyst Axel Kibar stated that Bitcoin could show a Head and Shoulders pattern and fall to $80,000.
- Kibar explained that this is a retreat from the completed expanded pattern after breaking through $73,700.
- Considering the opposition from some Bitcoin supporters, it is likely that Bitcoin will experience an adjustment.
There is a claim that Bitcoin (BTC) could fall to $80,000.
On the 26th (local time), chart analyst Axel Kibar stated, "Bitcoin could show a Head and Shoulders (H&S) pattern," and "in this adjustment, it could fall to $80,000." He added, "This is a retreat from the completed expanded pattern after breaking through $73,700."
When some Bitcoin supporters opposed his claim, Kibar elaborated, "There are many immediate and overly confident reactions regarding the $80,000 drop," and "Considering these reactions, it is likely that Bitcoin will experience an adjustment."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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