Why Aksel Kibar Believes Bitcoin Price Is Trap and This 'Rising Wedge' Signals Deeper Drop

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. A traditional markets analyst, Aksel Kibar, published a rare warning for Bitcoin investors, and according to his technical analysis the current price recovery is not the beginning of a new bull run, but only a technical trap within a global downtrend. Advertisement Thus, he emphasizes that in fact the long-term market structure has changed, and after Bitcoin failed to hold above the key highs of last year around $127,000 per BTC, the chart formed a large broadening pattern, followed by a sharp collapse. $60,000 could be next stop, says Kibar Now the price of Bitcoin is below its 365-day moving average, which is a classic sign of a bear market, and any short-term upward movements in such a situation Kibar considers only temporary consolidations before further decline. HOT Stories No, XRP Is Not Financial Instrument in Japan Yet, $25 Million Stolen via 200,000 USDC Trade in Resolv Labs Hack, 120 Billion Shiba Inu (SHIB) Exits Exchanges: Are Whales Back? — Morning Crypto Report $15 XRP? Ripple CTO Emeritus Responds to Critic With Surprise Take The main reason for concern today, in his opinion, is the formation of a “rising wedge” pattern. This means that the BTC price is moving upward in a narrowing corridor, but each new local high barely exceeds the previous one. Such a structure is usually counter-trend and signals exhaustion of buyers. Advertisement Bitcoin Chart Analysis, Source: Aksel Kibar Exactly at the level of $69,200, where Bitcoin is now, it is testing the lower boundary of this wedge. According to the analyst, the market has not yet found the final level for bottom fishing. You Might Also Like Sun, 03/22/2026 - 06:11 Szabo Warns Developers Not to Break Bitcoin By Alex Dovbnya If the wedge is broken downward, which is now happening in real time, the next targets will be $60,000, the nearest psychological support that was tested in early February, and a deeper zone at $52,000-$48,000, where the current phase of correction may end. Advertisement The analyst calls for caution and advises not to take local growth as a change of the global trend. While the price remains significantly below $90,000 per BTC , the dominant trend remains downward. #Bitcoin #Bitcoin Price Prediction