Analyst and merchant Kevin Svinson tends to climb on Bitcoin (BTC), where the encryption king hovers to less than $ 100,000.
In a new video clip, svenson Recount The 82,300 RSI Index Index (RSI) indicates the RSI, which is used to determine the excessive market conditions in the peak or in the wrapping area, to the bullish direction to Bitcoin in the weekly timeline.
According to Svenson, the RSI index on the weekly timeline is currently reflecting what has previously led to major homes.
HVery time, we get a break for the weekly RSI, and there is a main main pump. We had the first time here in December 2022, which led to an increase of 95 % in the price. In October 2023, we broke RSI’s weekly downward trend, which led to an increase of 80 %. The next time we did it shortly in January 2024 … it led to an increase of 73 %. Here in September 2024, this led to a 100 % increase in the price.
Here, Bitcoin again comes on the weekly landline. We are actually very close to the potential outbreak of RSI. As you can see without failing, this indicator, this sign is one of the best signals, one of the most reliable signals for long -term penetration to the upward trend. “
Analyst and merchants say bitcoin can rise by up to 39 % of the current level in the event of a breakdown.
“… from high to low from the monthly candle in December, if we want to get an outbreak that may lead us to 134,000 dollars. This would fully comply with the equivalent direction plan for textbook …
… we are currently at the fourth base that goes to the vertical point and the vertical batch may send us up to $ 134,000. I mean, what is the step, it has a pump. “
Bitcoin is trading at $ 96,180 at the time of this report.
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Distinguished Image: Shutterstock/Liu Zishan
