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

Innholdsfortegnelse

BH NEWS

Andre artikler publisert på 22. juni 2024

Crypto Analyst Predicts Bitcoin To Blast Off To $90,000 If This Happens

Avalanche (AVAX) Price Dips 10% After Major Sell-Off Concerns

Dogwifhat (WIF) Memecoin Plunges 50% In Valuation This Month!

Base Set to Launch Fault Proofs on its Sepolia Testnet

Shiba Inu Whale Withdraws 2.2 Billion SHIB From Robinhood, Should You Follow The Whales?

Sei Blockchain Boosts Trading Efficiency

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!