Axel Kibar, known for his technical analysis of cryptocurrency markets, assessed recent Bitcoin price movements $BTC and explained the critical levels investors should watch. The analyst said that two important bullish signals have emerged for Bitcoin recently, but the price sharply retested one of these breakouts.

According to Kibar’s analysis, Bitcoin’s first significant bullish signal appeared when it reached the $67,200 level. This move indicated the completion of an inverse head and shoulders (IHS) pattern, known in technical analysis as a bullish reversal formation.

The second important signal appeared when Bitcoin broke above the upper boundary of the rectangular formation it had traded within for a long time. Kibar argued that this breakout indicated the completion of a bottom reversal pattern, but Bitcoin is now sharply retesting the breakout.

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The analyst also drew attention to risk management related to the technical signal at the $82,800 level. According to Kibar, the latest low formed within the broad rectangular pattern could be considered a wider stop-loss level for this signal.

Kibar also discussed the technical structure of the inverse “head and shoulders” formation, noting that the lowest point of the right shoulder is particularly significant. According to the analyst, this level can be used to determine whether the formation remains valid after an upside breakout above the neckline.

Kibar said that if the price falls below the specified low, the bullish formation could be invalidated, which could also generate a sell signal.