Crypto analyst and trader Kevin Svenson expresses optimism regarding Bitcoin’s price recovery. Svenson indicates that Bitcoin $104,220 is ready to break above a descending trend following its recent sideways price movement over the past weeks.
Bitcoin Forecast
In his YouTube channel announcement, Svenson predicts that price movements will accelerate faster than expected after breaking the current trend line. He believes this rapid activity will lead to a significant market rally, pushing Bitcoin prices to higher levels.
According to the analyst, Bitcoin is currently in a parabolic trend, and its next significant price target, once it surpasses its all-time high, is at least $124,000. Svenson points out that Bitcoin’s trend line is becoming increasingly steep, suggesting that if this trend continues, the price could range between $124,000 and $130,000.
“I think the market will move much faster than expectations. This will leave people behind and take us to much higher price levels.” – Kevin Svenson.
At the time of writing, Bitcoin is trading at approximately $104,000, still below its all-time…
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