‘We’re going higher for longer’: Crypto Analyst Says Bitcoin Is Poised for Another Big Move – Here’s His Target
Cryptocurrency analyst Kevin Svensson is bullish on Bitcoin (BTC) as the major digital asset hovers just below the all-time high reached earlier this week.
In a new video Svensson He tells His 82,200 YouTube subscribers said Bitcoin is in a parabolic trend and has more upside potential before a correction occurs.
“So this parabolic trend is starting to move vertically on larger time scales… but right now the trend is our friend. I think we will be higher for a while longer, and Bitcoin has another major move in this parabolic.”
According to Svensson, Bitcoin could rise between 19% and 34% from the current level before completing the parabolic trend that began in early 2023.
“Next sale [point]…Because this parabola comes in at the top where we are somewhere between $124,000 – $140,000 before a major correction occurs, which is the collapse of the parabolic trend.
According to Svensson, Bitcoin’s bull run could end in the last quarter of this year if Bitcoin’s price action continues as it does in other four-year cycles.
“According to my models, the 40th week after the halving is actually next week or this week… This is usually the area where the cryptocurrency markets become more bullish. It continues for an additional 40 weeks. So, 80 weeks after the halving, it’s Bear market [in] Each cycle begins approximately… 80 weeks after the halving, which is October 2025.
Bitcoin is trading at $104,260 at the time of writing.
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