As Bitcoin (BTC) price rebounded above $64,000 on August 5, Aksel Kibar, a former fund manager, expects a possible rally to above $67,000 in the short term.
Kibar argued that Bitcoin price could be eyeing a retest of the resistance level around $67,200 in the near term, according to his August 4 X post, which Finbold analyzed on Wednesday. With Bitcoin price trading at $64,170 at the time of publication, he signals a plausible 4.72% upside in the near future.
BTC price 1D chart. Source: TradingView
This analyst highlighted that BTC price has possibly bottomed out after hitting a low of approximately $58,570 reached earlier last month. The classical chart trader based his short-term bullish thesis on an early formation of a potential reversal pattern.
Moreover, Kibar pointed out that Bitcoin price could be forming an inverse head-and-shoulders (H&S) pattern. With an established neckline around $67,200, the analyst expects a rally possibly in August.
Additionally, the ex
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