In an exhilarating turn of events for cryptocurrency enthusiasts, Kevin Svenson, an acclaimed analyst and trader, has spotlighted Bitcoin’s (BTC) weekly Relative Strength Index (RSI) as a beacon of bullish potential. As Bitcoin flirts with the elusive $100,000 mark, Svenson’s assessment holds the promise of a remarkable surge for the flagship digital asset.

**Weekly RSI: A Reliable Bull Signal**

Svenson, addressing his robust base of 82,400 YouTube subscribers, unveils an analysis that positions the weekly RSI as a reliable predictor of bullish pivots in the Bitcoin market. The RSI, well-known among traders, operates as a momentum oscillator, fluctuating between 0 and 100 to assess overbought or oversold conditions. Currently, the weekly RSI is piercing the downtrend resistance, a potential precursor to a substantial upward trend.

“Every major Bitcoin uptrend since early 2023 has been heralded by a weekly RSI breakout,” Svenson noted emphatically. Should the RSI continue its upward trajectory past the resistance line, both short and long-term Bitcoin projections look remarkably promising.

**Bitcoin Price Targets: Eyeing $124,000 to $134,000**

Delving deeper into potential price movements, Svenson paints a bullish scenario where Bitcoin could leap by up to 36% from its present trading level near $98,797. His target range extends from $124,000 to $134,000, tied to a parabolic movement that, while substantial, might precede a corrective phase before further growth by year’s end.

**Final Thoughts**

For traders and investors navigating the turbulent waters of cryptocurrency, Svenson’s analysis offers a beacon of optimistic potential. As the crypto community closely watches Bitcoin’s RSI performance, the possibility of BTC soaring beyond current resistance levels instills a fresh wave of enthusiasm in market participants.

**Stay Updated**

Don’t miss crucial updates—subscribe to receive the latest insights directly to your inbox. Follow our price action trackers and join our social media channels for real-time updates.

*Disclaimer: Conduct thorough due diligence before engaging in cryptocurrency investments, as The Daily Hodl does not provide financial advice.*

Latest AI Art

  • masterpiece, best quality, good quality, newest, highres, absurdres, volumetric lighting,gradient color, BREAK raytracing, volumetric lighting, ambient occlusion, girl, background, masterpiece, best quality, very awa, absurdres, BREAK Aka-Oni, oni, colored skin, (red skin:1.3), straight horns, solo, long hair, model style, BREAK masterpiece,amazing quality,best quality,ultra-detailed,8K,illustration,CG,shiny hair,clear skin,ultra-detailed-eyes, background,cute girl, eyelashes, cinematic, (masterpiece), (best quality), (ultra-detailed), very aesthetic, illustration, perfect,best quality, amazing quality BREAK, anime, sexy girl, ((white laced choker)), sea blue, micro top, sea blue caribic, side-tie thong, wet clothes, large firm breast, ((seethrough breasts, seethrough hard nipple)), (wet clothes), underboob, head tilt, arms up, hand on breast, hand in hair, posing, dynamic angle, biting own lip, standing, from below
  • score_9, score_8_up, score_7_up, source_anime, 1girl, solo, very beautiful, slim, solo, long blonde hair, ponytail, blue eyes, warm colors, blush, parted lips, pale skin, long pink bunny ears, pink collar, medium perky breasts, slim waist, extreme spread legs, pussy, pink stockings, on white bed, kneeling, colorful, cinematic colors, masterpiece
  • score_9, score_8_up, score_7_up, realistic, 1girl, pussy focus, close up shot, puffy pussy, perfect pussy, thighigh stockings, thigh skindentation, wide hips, thin waist, navel,
  • score_9, score_8_up, score_7_up, realistic, 1girl, pussy focus, close up shot, puffy pussy, perfect pussy, thighigh stockings, thigh skindentation, wide hips, thin waist, navel,
  • score_9, score_8_up, score_7_up, source_anime,rating_explicit BREAK Odo Ninja Lily Evendale,(1girl,mascara,eyeliner,dark grey eyes,black hair,messy long hair with bangs),(black leather armor,cleavage cutout,black gloves,black cape, black chaps,black thighhigh boots,black headwear),(black microbikini,areola slip,areolas visible,nipple bulge, black thong),cameltoe, (massive breasts, huge butt) BREAK (couple, hetero, 1girl, 1boy, kiss, masterpiece, best quality, mistletoe overhead, cozy bedroom background, muscular male)

Discover More

Share This Story, Choose Your Platform!

Leave A Comment

Coins of the Hour

HOT TOPICS