Top analyst Aksel Kibar (CMT) believes Bitcoin is approaching a decisive moment on the weekly chart. In a post shared on 9 July 2025, the veteran technician noted that BTC\/USD is \u201cholding right at the pattern boundary.\u201d The annotated chart he released\u2014covering Bitstamp weekly prices back to mid-2022\u2014shows the cryptocurrency compressing directly beneath a horizontal resistance band at $109,000, the neckline of what he labels a six-month head-and-shoulders (H&S) continuation formation.<\/p>\n
Kibar\u2019s chart first revisits the basing sequence that reversed the 2022 bear cycle. A textbook inverse head-and-shoulders bottom completed in early-2023, with troughs at roughly $17,600 (left shoulder), $15,500 (head) and $19,500 (right shoulder). The breakout above the neckline sent Bitcoin to $31,400.<\/p>\n
Immediately thereafter, price stalled in a six-month rectangle bounded by $25,000 support and $31,400 resistance. The eventual topside resolution propelled the market to the rectangle\u2019s implied target of $38,000, validating two consecutive classical projections in less than a year. Afterwards, the BTC price grinded higher. Below $73,700, BTC consolidated in a falling wedge, ending with a breakout toward $109,000.<\/p>\n
From that point, the initial pullback bottomed at $91,200, creating what Kibar designates as the left shoulder. A deeper descent to $76,500 carved out the head. Then, the Bitcoin price formed the right shoulder at $101,500, echoed by the blue bowl-shaped arc on the chart.<\/p>\n
Throughout this structure the neckline at $109,000 remained intact, acting as a clear demarcation between consolidation <\/a>and fresh highs. The inverse head-and-shoulders<\/a> pattern spans roughly half a year, matching the analyst\u2019s \u201c6-month-long\u201d annotation.<\/p>\n Using the orthodox H&S continuation rule\u2014adding the vertical distance from the head ($73,700) to the neckline ($109,000) to the breakout level\u2014Kibar derives a price objective of $141,300. He notes in an X reply that this target is separate from the earlier $137,000 objective, which came from a larger cup-with-handle on the monthly scale. In other words, the shorter-term weekly pattern now projects modestly higher than the longer-term structure.<\/a><\/p>\n At press time Bitcoin, Bitcoin traded near $111,000, surpassing the neckline. However, from a technician\u2019s standpoint, the breakout still needs to confirm with the weekly close. Confirmation requires a decisive weekly settlement north of the $109,000 neckline. As Kibar notes: \u201cBreakout needs to take place with a long white candle, similar to previous pattern completions. There should be no hesitation.\u201d<\/p>\n Invalidation would emerge on a weekly close back below the most recent swing-low support at $101,500; deeper failure beneath $91,2000 would unravel the pattern entirely.<\/p>\n For now, Bitcoin sits at the fulcrum of its six-month equilibrium. A weekly candle or two should reveal whether the largest digital asset can convert yet another classical chart formation into a measured move\u2014this time toward mid-six-figure territory.<\/p>","protected":false},"excerpt":{"rendered":" Top analyst Aksel Kibar (CMT) believes Bitcoin is approaching a decisive moment on the weekly chart. In a post shared on 9 July 2025, the veteran technician noted that BTC\/USD is \u201cholding right at the pattern boundary.\u201d The annotated chart he released\u2014covering Bitstamp weekly prices back to mid-2022\u2014shows the cryptocurrency compressing directly beneath a horizontal […]<\/p>\n","protected":false},"author":0,"featured_media":79751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-79750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/79750"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=79750"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/79750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/79751"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=79750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=79750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=79750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}