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Analyst: If Bitcoin holds the key resistance level of $66,600, it could rise to $76,000.

2026.08.20 00:06:59

Tech Charts market technical analyst Aksel Kibar notes that Bitcoin’s (BTC) daily chart has been forming a bullish inverse head and shoulders pattern since its June low. The pattern’s neckline resistance sits at roughly $66,600. Kibar states that a clear breakout and hold above this neckline would confirm the pattern, with a target price of $76,000 calculated from the distance between the pattern’s head and neckline. This formation, which has been developing since early June, could signal a potential bottom for the current bear market following Bitcoin’s $126,000 peak last October. Traders are now monitoring whether the pattern will complete its confirmation and spark a new uptrend.

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