Bitcoin Retests Recent Breakouts as Bullish Patterns Come Under Pressure

Axel Kibar highlighted two fresh bullish signals in Bitcoin. One arrived at $67,200 with the completion of an inverted head-and-shoulders pattern. The second came when price finally cleared the top of its long-running rectangular range.

The market has since pulled back sharply to retest one of those breakouts. This quick reversal leaves the newly formed patterns vulnerable.

Kibar stresses the importance of the right-shoulder low in the head-and-shoulders structure. A close below it would invalidate the bullish setup and flash a sell signal. He suggests treating the recent low near $82,800 as a broader stop-loss reference.

Based on information from cryptonews.net