Aksel Kibar says break below $66,000 could send Bitcoin to $52,500
Market technician Aksel Kibar flags a bearish wedge in Bitcoin. A confirmed break below ~$66,000 would signal a path toward ~$52,500.
Kibar posted the setup on X. “See my analysis at the time of the previous bearish wedge pattern. A similar pattern might be developing… Breakdown of the lower boundary will be the signal for a possible move towards 52.5K.” Source.
He frames it as risk management, not a macro call. “If you got in with a chart signal, you should get out with the chart signal.” He adds that moving to the sidelines protects capital when the setup fails Source.
Context matters. On Jan 19, he highlighted price under the 365‑day EMA and a rising wedge, noting a potential test of 73.7K–76.5K support. That view preceded the last selloff Source.
- Breakdown trigger near 66K confirmed on chart signals Source
- Downside objective around 52.5K if structure fails Source
- Structure is a developing rising wedge on the daily chart Source
- Trend filter used: 365‑day EMA from prior analysis Source
Kibar is a Chartered Market Technician and founder of Tech Charts. He previously worked as a senior technical analyst and fund manager at National Bank of Abu Dhabi, and as a portfolio manager at Abu Dhabi Investment Company.
Implication for traders is clear. Inside the wedge or on an upside break, no change. A clean break below 66K opens room toward 52–53K, per his map Source Source.
