Popular crypto strategist and trader Kevin Svenson, Bitcoin He stated that the price is in the early stages of a parabolic surge.
crypto analyst Kevin Svensonon the social media platform X account, underlined that Bitcoin was trending towards a parabolic increase in the year before the halving drew.
As we reported as Koinfinans.com, the BTC halving is expected to occur in April 2024. This expectation and the event itself are interpreted as an upward catalyst that is ‘eagerly’ awaited by the community.
Svenson draws attention with a chart that predicts Bitcoin will rise to $60,000 a month before the next halving event. However, according to the analyst, the progress will not be as easy and linear as in this chart. Still, the price will eventually approach the expected $60,000 levels.
Looking at Bitcoin’s possible short-term movements, Svenson shared two bullish scenarios for BTC.
According to the first scenario, BTC will continue until the channel resistance at $ 36,850. In the second scenario, it will have difficulty holding the current support and will fill a volume gap by falling to $ 31,500. However, as a result, the price will continue to rise by filling this gap.
