Per Quotidie Hodl - 3 months ago - Reading Time: 2 minutes
Bitcoin Coruscet Bullish Contraria Signum Inter Parabolicum Fossa Formatione, ait Analyticum Kevin Svenson
A late crypto analyst credit quod secuta est Bitcoin (BTC) is on an uptrend despite a sharp drop from its 2024 high of nearly $49,000.
In a new video update, crypto strategist Kevin Svenson narrat his 71,500 YouTube subscribers that he remains bullish on the crypto king despite the negative market sentiment surrounding it.
“We are currently experiencing fear, uncertainty and doubt (FUD) in a major uptrend. This should be a contrarian signal, a bullish contrarian signal…
Bitcoin is currently inside of a classic expansion phase, a contraction phase followed by an expansion phase, followed by a contraction phase and now the next halving is coming, an expansion phase. And so generally I am maintaining a bullish bias.”
Source: Kevin Svenson/YouTubeSecundum Svenson, Bitcoin can still go lower in price but retain its bullish momentum as BTC’s upcoming halving event – which is slated for April and will see miners’ rewards cut in half – will cause a spike in demand.
“If we break this parabola, then we have to be aiming for our trendline… if Bitcoin fails the parabolic sort of curvature, well then we would actually be looking to test about $33,000 [and] roughly somewhere just above $33,000 would become the target before maybe rallying into the halving.
ita, si Bitcoin does continue the bearish price action, I’d be targeting the low $33,000 range for our next support bounce right along our linear uptrend line. And then giving us a nice rally going into the halving, the halving likely providing the market with a lot of demand.”
Source: Kevin Svenson/YouTubeBitcoin is trading at $40,198 at time of writing, a marginal increase on the day.
Non requiro a Beat - Subscribe ut email summis delivered directe ad inboxreprehendo Price Action
Sequere super nos Twitter, Facebook et Telegram
Superficies Daily Hodl Nobis
Reprehendo Latest News
Terms: Cotidie Hodl sententiae non expressis ad consilium elit. Et facere ante elit nulla diligentia summum periculum in re Bitcoin, Vel digital cryptocurrency bonorum. Quaeso consilium tuum erit transferre periculo tuo, et artium est, et nihil perdidit qui respondens recipias. Daily Hodl non suadeo aliqua cryptocurrencies aut digital emptio vel venditio bonorum, neque enim The Daily Hodl investment an advisor. Placere note quod in affiliate venalicium Daily Hodl participat.
Generated Image: Dalle3
et post Bitcoin Coruscet Bullish Contraria Signum Inter Parabolicum Fossa Formatione, ait Analyticum Kevin Svenson apparuit primo die Daily Hodl.
Primigenum rerum fontem, Daily Hodl