According to Crypto Money Analyst Kevin Svenson, some important signals in technical analysis Bitcoin $84,916.31It may also open the door of a upward movement in the near term. Particularly, Svenson pointed out the long -lasting trend in the recent period and says that a potential return point in the market may occur. The signals given by indicators such as both RSI and MACD can draw a promising picture for investors. Svenson’s statements focus on the possibility of a highly followed rise by technical analysis followers.
Technical table strengthened with RSI and MACD
According to Svenson, it is noteworthy that the upward trend of the four -hour and daily graphs is approaching the rise and the trend lines approaching each other. This convergence is usually interpreted as a signal of direction change in technical analysis. In particular, horizontal resistance frustration in the RSI (Relative Power Index) indicator may be an important technical threshold compared to the analyst. Svenson reminds us that such breaks are harbinger of strong movements in prices in the past.
The MACD indicator in the daily time period offers a similar picture. Stating that the momentum returned in favor of the bulls, Svenson emphasizes that buyers gain strength, especially above the resistance level. This indicates that technically the price can be broken upward. Macd’s moment my momentum is often re -revived in the market. Svenson says this technical harmony can be the beginning of a larger move in the market.
Rising triangular formation and possible target
Another important technical detail that the analyst draws attention is the rising triangular formation in three -day graphics. In technical analysis, this structure usually prepares the ground for upward breaking the price. Svenson says this formation supports a price increase of approximately 13 %in Bitcoin. For Bitcoin, who currently moves at 86,551 dollars, stands out for the target level.
The rising triangular formation was among the structures that gave a recovery signal in the past, especially after the decrease periods. According to Svenson, such formations may play a critical role in recovery of the lost value. This approach based on technical analysis is considered as a powerful tool among investors, especially short and medium -term expectations.
Nevertheless, Svenson adds that despite the positive signals, uncertainties in the market should not be ignored. Recalling that market psychology and external factors are effective as well as technical indicators, he states that it is beneficial for investors to be cautious. Especially in the periods of volatility, technical interpretations are supportive but alone is not enough.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
