Crypto analyst Kevin Svenson says that Bitcoin could continue its uptrend until March 2025. Svenson bases this prediction on the Weekly RSI (Relative Strength Index) breakout.
According to Svenson, the RSI breakout stands out as one of the most reliable macro bullish signals in Bitcoin history. This indicator signals that prices will continue to rise and the bull market will gain strength. While the RSI evaluates the market’s momentum, a strong bullish breakout is considered a reliable signal of an upward price movement.
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Svenson emphasizes that this technical signal has been repeated throughout history, causing significant rallies in Bitcoin’s previous cycles. Therefore, he believes that current market conditions will follow a similar trend and Bitcoin prices will move upwards until at least the first quarter of 2025.
Kevin Svenson, looking at Bitcoin’s past performance, notes that the weekly RSI breakout has led to long-term rallies many times. He predicts that this technical signal will support price increases in 2024 and early 2025. According to Svenson, Bitcoin investors could make significant gains during this period.
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