{"id":139543,"date":"2024-10-12T20:00:07","date_gmt":"2024-10-12T17:00:07","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139543"},"modified":"2024-10-12T18:24:07","modified_gmt":"2024-10-12T15:24:07","slug":"top-trader-kevin-svenson-reveals-his-latest-bitcoin-btc-price-prediction","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/top-trader-kevin-svenson-reveals-his-latest-bitcoin-btc-price-prediction\/","title":{"rendered":"Top Trader Kevin Svenson Reveals His Latest Bitcoin (BTC) Price Prediction"},"content":{"rendered":"

He believes that Bitcoin has formed a falling wedge on the four-hour chart, a structure that typically signals a potential upward move as selling pressure eases.<\/p>\n

\n
Read More:<\/h5>\n \n
\n \n \n <\/span>\n <\/div>\n
\n

Michael Saylor Reveals Ambitious Plan for MicroStrategy’s Future<\/h4>\n <\/div>\n <\/a>\n<\/div>\n<\/p>\n

According to him, if this falling wedge formation is confirmed, it could mark a local low for Bitcoin, setting the stage for a recovery:<\/p>\n

As long as the stock market remains stable, Bitcoin should be close to completing this formation. While we could dip lower if this is the bottom, Bitcoin could experience a solid recovery, potentially bouncing out of this range.<\/em><\/p><\/blockquote>\n

Furthermore, Svenson cautioned that for Bitcoin<\/strong> <\/a>to sustain a sustainable recovery, it must continue to form higher lows on the daily chart:<\/p>\n

He also noted that if BTC falls below $57,000, it could lead to significant selling, potentially driving the price to a deeper low before any rebound occurs.<\/em><\/p>\n

According to the trader\u2019s analysis, the confirmed recovery would be cemented if Bitcoin holds above $62,000, with a potential price target near $90,000.<\/p>\n