Analyst Points to Most Critical Bitcoin Level we Should Watch Right Now

Crypto trader and analyst Kevin Svenson has shared his thoughts on Bitcoin’s potential price movement, suggesting a path to a potential bullish recovery.

Svenson pointed out that for Bitcoin to regain upward momentum, it needs to break through a key resistance level and close above $90,000.

In his latest video, Svenson explained that Bitcoin’s immediate goal is to close above a critical support line on the weekly chart, ideally around $87,500. He emphasized that a strong close above $90,000, which has previously served as a key bounce point, would be a strong bullish signal for the market.

However, he cautioned that if Bitcoin fails to rise and hold above the $90,000 threshold, it could indicate weakening demand, signaling a potential breakdown of the upward trend.

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Svenson also speculated on Bitcoin’s future price behavior, suggesting that the cryptocurrency might experience a period of sideways movement, similar to a previous market rebound seen in August. He noted that while this may cause some market skepticism, he remains optimistic that Bitcoin will continue its upward trajectory over time.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.