Bitcoin Poised to Rally to $90,000, Says Analyst ๐
Analyst Kevin Svenson believes the recent correction has solidified the final base of Bitcoinโs parabolic ascent. According to Svenson, Bitcoin may have just completed base four of its pattern, indicating a potential rally to $90,000. Hereโs a breakdown of his outlook:
Bitcoin Shows Bullish Signs ๐
- Svenson points out that two momentum indicators have turned bullish for Bitcoin:
- Bitcoinโs MACD and RSI indicators on the daily chart are now in favor of BTC bulls.
- Positive indicators include:
- First positive MACD in over 50 days.
- Bitcoin broke above the 65+ day RSI downtrend.
- Svenson emphasizes that the picture is shifting.
Bitcoin Bull Market Could Extend Beyond $90,000 ๐
Svenson asserts that Bitcoinโs bull market will not necessarily end at $90,000. According to him:
- There could be more action after $90,000.
- The Bitcoin halving just occurred, signaling early stages of the cycle.
- Anticipates a major correction post $90,000, but remains optimistic about future prospects.
As of now, Bitcoin is trading at $63,711.
Stay Informed and Stay Ahead ๐
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Hot Take: Bitcoinโs Bullish Momentum โจ
Bitcoinโs path to $90,000 seems clearer than ever, with indicators favoring bullish outcomes. Keep an eye on Bitcoinโs journey as it continues to defy expectations in the crypto market.
Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy’s insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding.