Bitcoin Parabola Becoming Evident As BTC Signals Turn Bullish, Claims Cryptocurrency Trader – Here’s His Perspective
A well-known cryptocurrency trader believes that Bitcoin’s recent correction has solidified the final foundation of its multi-month parabolic surge. In a post on the social media platform X, analyst Kevin Svenson suggests that Bitcoin may have completed base four of its parabolic curve pattern. He shares a chart indicating that Bitcoin is now set to rally towards the pattern’s price target of $90,000. Svenson highlights that two momentum indicators, Bitcoin’s moving average convergence divergence (MACD) and relative strength index (RSI) on the daily chart, have recently turned bullish for BTC. He further asserts that Bitcoin’s bull market will not end at $90,000, but rather, there will be more significant movements ahead. As of now, Bitcoin is trading at $63,711.