CandleFocus Analyst Kevin Svenson Outlines Two Scenarios That Could Trigger Bitcoin Rally to $100,000 – Here’s His Outlook
2024-11-29
Author: Content Editor
Analyst Kevin Svenson predicts that Bitcoin could reach a price of $100,000 in the near future if it remains above an ascending trendline. He suggests that if Bitcoin maintains this trend line and breaks out again, it could reach $100,000 in December. However, if Bitcoin dips to the 0.382 Fibonacci retracement level at around $87,500, it may reach $100,000 by the end of December or going into the New Year. Svenson views the recent correction in Bitcoin as a minor pullback and believes that the market demand for Bitcoin remains strong. At the time of writing, Bitcoin is trading at $93,402, down around 9% from its all-time high of $99,645.
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