Crypto analyst and trader Kevin Svenson is bullish on Bitcoin as the coin breaks out of a bullish reversal pattern. Svenson believes that Bitcoin's falling wedge formation indicates a potential leg up and a local bottom for the cryptocurrency. However, he warns that Bitcoin needs to maintain higher lows on the daily time frame to sustain a recovery. If a crucial level is broken, it could trigger another sell-off event. Svenson's chart suggests that Bitcoin will confirm its recovery by trading above $62,000, with a price target just below $90,000.



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