Cryptocurrency analyst Kevin Svenson predicts Bitcoin's upward trend due to a bullish signal; Svenson outlines his price targets.
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If you're tired of hearing the same old "bearish" talk, buckle up as our resident crypto analyst and trader Kevin Svenson is here to share his latest bullish forecast for Bitcoin! With a 15% surge over the past month, Svenson believes Bitcoin bears are losing steam, and he's got his sights set on a staggering price target!
Spoiler alert: He's aiming for six figures, y'all!
Kevin uses the Moving Average Convergence Divergence (MACD) indicator, a popular tool to identify shifts in market trends and sentiment, to justify his bullish stance. Based on this, he argues that Bitcoin is forming an ascending triangle pattern on the four-hour time frame, a bullish signal when confirmed by rising volume.
If this pattern plays out as expected, Kevin predicts Bitcoin will surge to a mind-blowing $99,600 – that's right, you read that correctly, folks! If this bullish trajectory materializes, Bitcoin may create a swing range between $90,000 and $100,000 before pushing even higher.
But why is he so bullish on Bitcoin right now? Well, it seems a recovering US stock market plays a big role in Kevin's bullish outlook. As the S&P 500 climbs and breaks upward-sloping resistance, the overall market mood is shifting, leading to increased investor confidence in high-risk assets – ahem, cryptos.
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DISCLAIMER: The information provided in this article is for informational purposes only and should not be construed as investment or financial advice. Always do your own research and consult with a financial advisor before making any investment decisions.
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In the realm of cryptocurrency, Bitcoin's bullish forecast is leading the way with a predicted surge, reaching as high as $99,600 according to Rebel Financials' resident analyst, Kevin Svenson. The rise of Bitcoin is not happening in isolation; the overall recovery of the US stock market and increased investor confidence in high-risk assets like altcoins are contributing factors. Stay informed about these updates and more by following Rebel Financials on their various platforms and subscribing to their newsletter.
