Crypto Money Analyst made remarkable assessments about Bitcoin’s (BTC) price movements Kevin SvensonHe said that an important break in the Relative Power Index (RSI) indicator in the weekly time period indicates an upcoming trend change. According to Svenson, this technical signal is in the crypto currency market, especially Bitcoin It shows that the long -standing decline trend on the front can end. Analyst emphasized that Bitcoin, as well as Ethereum’s (ETH) price movements can also shape the Altcoin season. Current prices and technical indicators indicate that there may be a period in which investors can start to take positions again.
Critical breakage in the RSI indicator in the weekly time period
According to Svenson’s analysis, Bitcoin’s weekly time period RSI indicatorSince January, the ongoing decline trend was attached to a significant resistance line. However, with the latest developments, this cross -resistance zone was finally broken and the RSI made an upward attack. Analyst stressed that this break is technically important because similar breaks brought strong rise in the past.
According to the analyst, Bitcoin’s RsiIn order to remain on this resistance line, the price must be above certain technical levels for the rest of the week. Svenson considers RSI’s ability to make this expected movement as an important threshold in terms of renewing confidence in the market. Technical indicators are currently giving strong signals that the fall trend can end.
The rise of Ethereum can activate Altcoins
Svenson is as much as Bitcoin’s technical breaks EthereumHe said he would play a decisive role for the crypto money market. If Ethereum makes a upward move altcoin He pointed out that the season could start. According to this view, Ethereum’s signing a strong rally may increase the general risk appetite in the market and direct investors to subcoins.
Analyst pointed out that a similar scenario could be repeated, recalling the rise after the RSI breaks at the beginning of 2023. A recovery process that will begin under the leadership of Ethereum Altcoin marketIt can trigger mobility. In this process, investors’ interest in high -volume subcoins may increase.
Market indicators and investor expectations
Bitcoin was traded at 85 thousand 630 dollars at the time of the article, while Ethereum finds buyers in approximately 631 dollars of dollars. Technical data shows that existing prices are on critical thresholds. Price graphics in daily time period also have signs that the decline trend is broken, while investors follow the developments in cautious optimism.
Although some analysts such as Svenson suggest that existing technical signals may be a harbinger of a turn in the market volatilityThe highness of the investors requires careful to be careful. Especially the breaks in indicators such as RSIs were the beginning of harsh price movements in the past. For this reason, market participants should take into account the possible risks as well as short -term earnings expectations.
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.
