Convergence

Long

Bitcoin

Kevin

Read

<ul>
 <li>Cryptocurrency analyst Kevin Svenson predicts Bitcoin surge to $90,000 after final dip solidifies.</li>
 <li>Svenson’s prediction is backed by the positive turn of momentum indicators MACD and RSI.</li>
 <li>Svenson anticipates Bitcoin’s bull cycle to continue beyond $90,000, citing the recent Bitcoin Halving event.</li>
</ul>
<p>Bitcoin researcher <a href="https://twitter.com/KevinSvenson_" target="_blank" rel="noopener noreferrer nofollow">Kevin Svenson</a> predicts an enormous spike in the price of the cryptocurrency, claiming that recent market corrections have cemented the last drop area in its exponential advance over several months. Renowned for his analysis of the movements in digital currencies, Svenson predicts that <a href="https://bitcoin.org/en/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> will eventually hit $90,000.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BITCOIN</a> | Daily Chart | MACD + RSI<br><br>⚬<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a>'s first positive MACD in 50+ Days. <br>⚬<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> broke above the 65+ day RSI downtrend. <br><br>The picture is certainly ⤻ shifting here. <a href="https://t.co/E9P82rEzSZ" rel="noopener noreferrer nofollow">pic.twitter.com/E9P82rEzSZ</a></p>— Kevin Svenson (@KevinSvenson_) <a href="https://twitter.com/KevinSvenson_/status/1787230330295861736?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Svenson, a respected figure in the crypto community,&nbsp; gave his followers his positive prediction, emphasising that Bitcoin has finished the fourth dip formation in its parabolic curve model. He expressed his hope with a chart analysis that showed Bitcoin was prepared to rise to the $90,000 price projection.</p>
<p>The changing momentum indicators for Bitcoin back up the analyst’s bullish position. Svenson points out that the daily chart of Bitcoin has shown investors the benefit of both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators.</p>
<p>He continues saying that for more than 50 days, BTC has been experiencing positive MACD. Thus, the RSI of Bitcoin has surpassed the downtrend after more than 65 days meaning that things are undoubtedly changing in this cycle.</p>
<p>Svenson says the <a href="https://cryptonewsland.com/bitcoin-analysts-reveals-possible-timeline-for-bull-market-peak-price-if-current-cycle-remains-accelerated/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency’s bull run is far from over</a> even though he projects Bitcoin will hit $90,000. He projects even greater growth, pointing out that the recent halving of Bitcoin’s block reward signals more activity down the line.&nbsp;</p>
<p>Contrary to popular belief, Svenson says he expects a major correction after $90,000 but believes that we are still very early in this cycle. With the cryptocurrency market still developing, Svenson’s observations offer insightful views on the future of Bitcoin.</p>
<p>Lastly, Indicators pointing to bullish momentum and a sustained growth projection above $90,000 have investors and followers excitedly <a href="https://cryptonewsland.com/renowned-analyst-doctor-profit-predicts-bitcoin-surge-beyond-100k-after-halving/" target="_blank" rel="noopener noreferrer nofollow">anticipating Bitcoin’s future moves</a> in the ever-changing world of digital assets.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/kevin-oleary-to-bitboy-take-out-my-garage/" rel="noopener noreferrer nofollow">Kevin O’Leary to Bitboy: “Take Out [My] Garage”</a></li>
 <li><a href="https://cryptonewsland.com/puma-x-final-fantasy-xiv-apparel-collection-to-launch-soon/" rel="noopener noreferrer nofollow">Puma x Final Fantasy XIV Apparel Collection To Launch Soon</a></li>
 <li><a href="https://cryptonewsland.com/the-sec-wins-case-after-a-long-battle-with-final-court-ruling/" rel="noopener noreferrer nofollow">The SEC Wins Case After a Long Battle With Final Court Ruling</a></li>
 <li><a href="https://cryptonewsland.com/navigating-the-final-fud-a-bullish-turn-expected-by-april-2024/" rel="noopener noreferrer nofollow">Navigating the Final FUD: A Bullish Turn Expected by April 2024</a></li>
 <li><a href="https://cryptonewsland.com/sec-case-against-ripple-execs-officially-dismissed-judge-signs-final-order/" rel="noopener noreferrer nofollow">SEC Case Against Ripple Execs Officially Dismissed: Judge Signs Final Order</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/analyst-predicts-bitcoin-surge-targets-90000-amid-bullish-indicators/" rel="noopener noreferrer nofollow">Analyst Predicts Bitcoin Surge: Targets $90,000 Amid Bullish Indicators</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Analyst Predicts Bitcoin Surge: Targets $90,000 Amid Bullish Indicators

Crypto News Land

Other articles published on May 7, 2024

Exploring Beyond Bitcoin: Spotlight on Trending Cryptocurrencies (BTC)

1 in 5 US Voters Prioritize Crypto Issues for 2024 Elections: Spotlight on Digital Currency Group...

Ex-Digitex Futures Exchange CEO pleads guilty to violating Bank Secrecy Act

Bitcoin (BTC) Predictions: Bull or Bear Market? Experts Weigh In

Kelexo (KLXO) Lending Platform Innovation Draws Hedge Fund Bets, Cardano (ADA) and Bitcoin (BTC) ...

Over 5 Million DOGE Holders Profit as Dogecoin Targets $0.5 Milestone

Join our free newsletter for daily crypto updates!