Nothing has changed: Trader says he still expects bitcoin levels at all in this course-but there is hunting
Analyst and merchant Kevin Svinson says he is still bullish on Bitcoin (BTC) amid a correction that witnessed a decrease in the leading encryption assets of about 23 % of the highlands registered ever in January.
In a new strategic session, svenson Recount Its 82,800 subscribers from YouTube subscribers indicate that the relative power index, the RSI and the average moving average divergence (MACD), refer to that Bitcoin is preparing for more upward trend after a period of side trading.
The RSI index is a momentum oscillator used to determine excessive or peak conditions. MACD is used to analyze price trends and momentum in an attempt to determine points to enter or get out of sites.
“Macd on The Weekly shows that the bears lose momentum and we keep supporting the relative strength index this week. Well, I will search for public price procedures.
Yes, I will say that. I think I will be the only one who says that … I still expect new levels at all in this session. Nothing has changed in this perspective. “
However, Svenson says that although Bitcoin shows signs on the bottom, the King Crypto King “is not completely from the forest yet” and can go down before the gathering.
“There is a possibility that the market at some point will actually flow before recovering. I mean, that Bitcoin plays this type of price procedure all the time …
… If we want to play a kind of final flow at the lowest level a little lower, this scenario will not surprise me – as it was tested to $ 70,000, down again first, going to a range of $ 90,000 first and then flowing before complete recovery. “
Bitcoin is trading at $ 83,586 at the time of this report.
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