A popular crypto strategist and trader says a potential shift that could end Bitcoin’s (BTC) multi-month downtrend is on the horizon.
Crypto analyst Kevin Svenson tells his 69,200 YouTube subscribers that Bitcoin is on the verge of taking out its diagonal resistance that has kept the market bearish since November 2021.
“This long-term [downtrend line], from $69,000 all the way down on the linear scale, we’re potentially at breakout point to break the macro downtrend on linear… But also we have the weekly RSI, which we’re currently about to break out of. So Bitcoin has some potential bullish pivots coming, potentially [a] bullish trend shift.”
The crypto analyst also says that in addition to taking out its diagonal resistance, Bitcoin is also printing a pattern that could indicate that the bear market bottom is in.
“Bitcoin is set up in what could be a double bottom… At the beginning of the year (May) when Bitcoin came down to about $33,000, we tested [$33,000], bounced up and...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...