Analyst and merchant Kevin Svinson tends to climb on Bitcoin (BTC) as the main encryption assets hover to less than $ 100,000.
In a new video clip, svenson Recount The 82,400 RSI Index Index (RSI) suggests the RSI, which is considered “one of the most reliable signals of upward equality in Bitcoin Land”, the transition to the upward trend of the main encryption.
RSI is an index of momentum swinging from 0 to 100 and used to determine peak or sale levels.
“And now we see, if you look closely, the weekly relative strength indicators began to peak over the declining direction line …
If we approach this resistance line, this may indicate a huge leg for bitcoin.
Each unique of Bitcoin, which we spent since the beginning of 2023, has been distinguished by a weekly break at the National National Conference at a time. If we are actually near the outbreak of the weekly RSI, it will be very optimistic about Bitcoin in the short, medium and long term. “
Svenson says that if the RSI index successfully separates the resistance line on the weekly timeline of Bitcoin, the main encryption may accumulate by up to 36 % of the current level.
“So between $ 124,000 – 134,000 dollars is the target scope for me in this equivalent trend …
I expect that after we got this next major punch, this progressive progress is to 124,000 dollars or perhaps 134,000 dollars, there will be a kind of correction that comes beside that as the market will settle and then settle at the end of a year to a much higher goal. “
Bitcoin is trading at $ 98,797 at the time of this report.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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