Bitcoin

Kevin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-could-hit-90000-soon" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Could Hit $90,000 Soon</a><br></p>
<p style="text-align: justify">Bitcoin (BTC), the largest cryptocurrency, experienced an 11% correction in the past two weeks, falling from around $72,000 in June to about $63,000. Despite this downturn, <a href="https://en.bitcoinhaber.net/crypto-market-update-sec-actions-solanas-recovery-and-more" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto analyst</a> Kevin Svenson has outlined conditions that could trigger substantial price increases for Bitcoin.</p>
<h2 id="key-milestone-67-000-weekly-close">Key Milestone: $67,000 Weekly Close?</h2>
<p style="text-align: justify">In a recent YouTube video, Svenson shared with his followers that Bitcoin has the potential to surge to $90,000 if it closes the current week above the parabolic curve trend line, which stands at $67,000. Such a close could spark a significant rally, according to the analyst.</p>
<p style="text-align: justify">Svenson explained that a “miraculous rally” generating a weekly bullish engulfing candle could propel Bitcoin’s price by approximately 42% from its current standing. This move would help maintain the cryptocurrency’s trajectory and momentum, potentially driving it to $90,000 <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a>.</p>
<h2 id="is-bitcoin-in-a-bull-market">Is Bitcoin in a Bull Market?</h2>
<p style="text-align: justify">Svenson also addressed the ongoing debate about whether Bitcoin is currently in a bull or bear market. He urged observers to rely on the chart rather than opinions, noting a series of rising lows indicative of an upward trend. According to him, this pattern, despite recent price drops, signifies a <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a> by definition.</p>
<h2 id="critical-insights-for-traders">Critical Insights for Traders</h2>
<p style="text-align: justify"><strong>Valuable Inferences:</strong></p>
<ul>
 <li>A weekly close above $67,000 is crucial for Bitcoin’s bullish momentum.</li>
 <li>The formation of a bullish engulfing candle could result in a 42% price surge.</li>
 <li>Bitcoin’s proximity to its all-time high suggests continued bullish potential.</li>
</ul>
<p style="text-align: justify">Currently, Bitcoin is trading at $64,102, showing a slight drop of just over 1% in the last 24 hours. Despite this minor decline, Svenson remains highly optimistic about Bitcoin’s outlook, contingent on its ability to close the week above the critical $67,000 threshold.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-could-hit-90000-soon" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Could Hit $90,000 Soon</a></h5>

Bitcoin Could Hit $90,000 Soon

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