The encryption analyst Kevin Svinson says Bitcoin says in the moment of “a close call”, which unveils the potential path forward.
Analyst Kevin Svinson offers his view of Bitcoin (BTC) where the main encryption assets are about 24 % less than the highest level ever.
In a new strategic session, svenson Recount Its 82,800 subscribers from YouTube subscribers that Bitcoin at a critical turn can determine the direction of the price of Crypto King in the coming weeks and months.
According to Svenson, Bitcoin sits on an equivalent direction that started in early 2023 and the next step made by the leading digital assets will be decisive.
“… we are currently above it [parabolic trend line]. But she receives a close call here. Bitcoin cannot spend a lot of time go along. Also, he cannot really spend any time a week [time frame] Going off, without breaking the equivalent direction.
Therefore, this is the last station to a large extent – either it will stick here and start to go up or finally end up to something else. Perhaps a side decrease. “
Svenson says that if Bitcoin turns to a decrease instead of height, it may drown at the levels recorded in November.
“The other choice is that we are shattered and go to 60,000 dollars.
Currently, there are signs indicating the idea that we may enter a stage where the market is in a state of calm, as we are actually a kind of side outlet for a period of time, this equivalent trend and we go to a more accumulated area. “
Bitcoin is trading at $ 82,900 at the time of this report.
The analyst says that if bulls prevail, Bitcoin has more bullish capabilities based on the weekend of the RSI, a momentum oscillator used to determine excessive purchase levels and increase.
“If Bitcoin plays a bullish scenario, whether we rise soon or accumulate for a longer period, and we rise to the highest new level ever, it is possible that the weekly service indicators are actually less.
This course is likely to be high. So I see that Bitcoin can test excessive peak levels per week, which means that there is a lot of bullish trend to play before the market temperature is completely high. “
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