Bitcoin’s Wild Ride: Are We at the Bottom or Just Bottoming Out?

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So, Bitcoin decided to take a little tumble this weekend-because who doesn’t love a dramatic dip before breakfast? It slid under $76,000 like it was trying to sneak out of a party early, briefly flirting with the $75,000 mark as if it were looking for a new friend. Apparently, this is all part of some grand plan by technician Aksel Kibar, who’s got his eyes glued to a magical zone he calls support-between $73.7K and $76.5K. It’s like the Goldilocks of crypto; not too high, not too low, but just right for some market magic.

But wait, it gets juicier! This dip didn’t happen in isolation. Oh no, the macro markets were already having a panic attack, selling off precious metals like they were last season’s shoes. So, when liquidity thinned out over the weekend, it was like tossing a lit match into a pool of gasoline-hello, volatility!

Is The Bitcoin Bottom In?

Kibar, that wise sage of charts, dropped some knowledge on X (that’s Twitter for those still using 2008 technology) about how price hanging out at support isn’t an automatic invitation to start buying up Bitcoin like it’s Black Friday. He reminded everyone that just because you see a pit doesn’t mean you should jump in headfirst-unless you’re into catching falling knives, which is a whole other hobby.

He’s not one to play “guess the low” either. Nope! Kibar’s all about classical chart patterns. He emphasized that hitting support is not a buy signal. It’s more like an RSVP-“Thanks for the invite, but I’ll wait for the actual party to start before showing up.” He’s looking for that elusive bullish reversal pattern, like a double bottom or shoulder, and he’s not chasing random levels just because they look good on a map.

When he says he’s waiting for structure, he means he wants to see a solid reversal formation before he makes any moves-like waiting for your fries to cool down before diving in. And let’s be real, if you’re trying to catch a falling knife, you’re probably going to end up with a trip to the ER.

In another post, he linked the “base building” concept to a breakout above $91.2K. That’s right, folks-$91.2K is the holy grail for a double-bottom scenario. But hold onto your hats; he clarified that confirmation is key because we’re currently below the long-term average. If this were a dating app, it would say “it’s complicated.”

Kibar also schooled us on the mental gymnastics of bottom-calling. He pushed back on the idea that caution equals fear. According to him, it’s not that he’s scared of being wrong; he just wants to feel really, really good about his decisions. I mean, who doesn’t want a solid backup plan for when things go south?

In his latest update, he shared the traits that suggest demand might be lurking around support, like buyers playing hide-and-seek. Forget checklists; he’s talking about signs-like candlesticks showing rejection (you know, the dramatic flair) and short-term reversal structures that scream “I’m ready to party!”

Oh, and he threw in some wisdom from his days managing a large fund in the UAE: “If there are no sellers, there will be no buyers.” It’s like a weird relationship metaphor. Heavy selling can actually help big buyers accumulate without crashing the price. Talk about a market romance!

And just when you think it couldn’t get crazier, he touched on Strategy (formerly MicroStrategy) and their potential asset selling, leaving us all wondering if they’re about to be the next big seller on the crypto block. Meanwhile, Bitcoin is strutting its stuff at $76,713, like it’s the star of the show.

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2026-02-02 12:16