Bitcoin on Cusp of Moving Higher Amid Bullish Signal, Says Crypto Analyst Kevin Svenson – Here Are His Targets
Analyst and businessman Kevin Svenson leaning against Bitcoin (BTC) in the middle of a crypto asset flagship rising more than 15% last month.
Svenson Says His 82,800 YouTube subscribers, based on moving the average convergence of the MACD indicator, a tool used to identify changes in the market's trends and emotions, bitcoin bears began to lose the momentum in the weekly frame time of the frame.
The Crypto and Analyst businessman further said that Bitcoin was “shaping an upward triangle” in the four -hour time frame. An upward triangle pattern is a bullish formation confirmed when the price violates the upper horizontal trend, combined with an increase in volume.
Svenson said he sets a six -figure target price for Bitcoin based on an extrapolation of bullish pattern.
“That is a signal that we are likely to fulfill this target up to $ 99,600 to the next breakout. And if this situation is playing, Bitcoin may look for a integration or a swing range between $ 90,000 and $ 100,000 before going up later. So far, my bias is bullish.”
The Crypto analyst said that some of the factors informing his bullish thesis for Bitcoin included recovery in the US stock market.
“There are many reasons for me to be bullish including the S&P 500 [index]. The general situation in the market today I think is about to change. I think it's about to move …
… when the stock market is bullish, great for crypto. This means that speculators are confident to think about what are considered high risk assets. “
Bitcoin traded at $ 95,012 at the time of writing.
https://www.youtube.com/watch?v=moom9VQl0w4
Follow us at X, Facebook and Telegram
Do not miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check price action
Surf with the sun -day hodl mix
& nbsp
Denial: Opinions expressed in Daily Hodl are not investment advice. Investors should do their appropriate hard work before making any investments at high risk to bitcoin, cryptocurrency or digital assets. Please advise that your transfers and trading are at your own risk, and any losses you can achieve is your responsibility. Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, or the sun -day hodl an investment advisor. Please note that the day -to -day hodl participates in affiliate marketing.
Formed image: midjourney
