Bitcoin (BTC) continues its upward trend, trading at the $105,135 level. Analyst Kevin Svenson highlights positive signals from technical indicators and underscores the importance of key support levels.
MACD's Positive Signals for Bitcoin
Kevin Svenson announced that the MACD indicator in the daily timeframe has provided a strong bullish signal for Bitcoin. The MACD indicator is known for analyzing the momentum of price movements. Svenson draws attention to the upward crossovers in the histogram of the indicator.
Importance of Bitcoin’s Support and Resistance Levels
Svenson also emphasized the potential for declines despite Bitcoin’s ongoing bullish trend. According to him, even if the price retraces to $100,000, the bullish trend could still continue. This situation may present significant opportunities for investors.
Scenarios and Opportunities for Investors
Svenson believes that after potential declines, the price will recover and continue its upward trajectory. Technical analysis tools play a crucial role in these predictions. He points out that Bitcoin’s strong support and resistance levels serve as guidance for investors.
While volatility remains high in the Bitcoin market, Svenson’s insights can be guiding for investors. The positive signals from technical analyses indicate that the leading cryptocurrency may reach even higher levels in the future.
