Bitcoin (BTC) ‘Quite Likely’ To Hit $60,000 in Coming Weeks, Says Crypto Strategist – But There’s a Catch

Crypto analyst Kevin Svenson believes Bitcoin (BTC) might rally to a key resistance degree forward of the halving occasion.

In a brand new technique session, the dealer tells his 72,000 YouTube subscribers that the flagship digital asset’s upward momentum might take it to $60,000 earlier than the April halving occasion, when miners’ rewards are reduce in half.

“So the world in between $57,500 and about $60,000, the entice liquidity goal, that’s the subsequent main space of resistance in my view. And that’s the space that I’m concentrating on as we’re shifting into the halving.

If we sustain this momentum, the momentum that we’ve proper now, the trajectory that we’re on, it’s not likely that loopy of an concept that we’d come up and hit that concentrate on zone in between $57,500 and $60,000. It’s fairly doubtless really.”

The dealer additionally warns that after the halving occasion, Bitcoin might retest the extent round $44,000.

“After the halving, there’s a chance that we get a dip to retest assist earlier than really testing new all-time highs.

However going into the halving, there’s going to be plenty of anticipation and anticipation for optimistic basic occasions such because the halving is probably going going to result in plenty of optimism, optimistic sentiment, bullish hypothesis, and relying on what the inventory market is doing after we get to those worth ranges, there’s a chance for a put up halving dip to that $44,000 degree earlier than then going up as soon as once more.”

Bitcoin is buying and selling for $49,604 at time of writing, a slight lower within the final 24 hours.

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