Trader Says Bitcoin Looking ‘Really Good,’ Predicts More Upside Amid Two Bullish Signals – But There’s a Catch
The trader and analyst of the cryptocurrency Kevin Svenson is optimistic about Bitcoin (BTC) in the middle of the development of the flagship digital asset in the past two weeks.
In a new strategy session, Svenson tell Its 82,800 YouTube subscribers that Bitcoin demonstrates a strong bullish momentum on the daily stopwatch.
“Bitcoin abandoning any of the pumps. We are pumping up, we go to the side, we are pomp, we are going to the side. And now, he is again pumping. He looks really good.”
Svenson also says that Bitcoin has confirmed a break on the four -hour table and is ready to go higher depending on the signals of the relative resistance index (RSI) and the indicators of divergence of Mobile average convergence (MacD).
The RSI is a Momentum oscillator used to determine the conditions of occurrence or overcrowding, while the MacD is used to determine the direction, momentum and duration of a trend or to identify potential purchase and sale signals.
“Bitcoin also broke the RSI resistance of four hours. And the MacD in four hours has switched to the bullish side. There are therefore several things leading us to believe that there could be a continuation of this decision.”
According to the analyst and the merchant, the escape could see Bitcoin reaching a price of around $ 100,000.
Svenson, however, warns that Bitcoin faces a lower risk and could be corrected before continuing.
“I do not want to reduce the possibility that Bitcoin after reaching our target upwards, you know, maybe there is a kind of trace in this area [below $90,000] before continuation. The market is always crazy, it is always volatile. »»
Bitcoin is traded at $ 97,067 at the time of the editorial staff.
https://www.youtube.com/watch?v=3SU0KKHLGLC
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