An analyst who is known for making timely Bitcoin calls believes that BTC is ready to see in the coming months how steep rallies.
In a new video, Trader Kevin Svenson tells his 83,200 YouTube followers that Bitcoin seems to be in the last phases of a parabolic trend that started in 2023.
According to Svenson, Bitcoin could ignite a fresh leg as soon as it achieves its final resistance area at around $ 110,000.
“It will be an epic epic in the coming months if we get this outbreak, because we still follow the parabolic trend to this day.”
Svenson is of the opinion that an outbreak will activate a “blow-off top” for Bitcoin, where BTC will experience a period of fast price increases before he collapses.
“The next phase is the vertical phase, where you go in a potential out of leaf top. A parabolic is just an exponential trend and it gets steeper and steeper. And that is why it is by definition the parabolic trend it is untenable …
It is a trade -off: it will be real, really bullish, and that is why it is untenable. In the end, the trend just like Bitcoin in 2017, 2021. In the end the trend will go back …
But this next push could be until October. ‘
Looking at the graph of the trader, he seems to predict that BTC will rise to $ 135,000 in the coming months. At the time of writing, Bitcoin is worth $ 110,085.
https://www.youtube.com/watch?v=aqRCRW0JYKA
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