Analyst Kevin Svenson Says Bitcoin Now Entering Vertical Stage of BTC Bull Market – Here Are His Price Targets

Cryptocurrency analyst and trader Kevin Svenson believes Bitcoin (BTC) is now poised to ignite steep rallies with shallow pullbacks.

In a new strategy session, Svenson tells his 83,500 YouTube subscribers that Bitcoin will likely print new all-time high prices as it launches the final phase of its parabolic advance.

While Svenson believes that rallies are in sight for BTC, he cautions that a sharp correction may follow the next leg up.

“We are now entering the vertical stage, where most likely the price is going to be sending up toward levels like $140,000 – $150,000 is my estimated range for the next top zone to come in before a break of the parabolic trend. 

And unlike the textbook diagram where it’s a straight line, that’s of course not how it goes. It’s not going to be a straight line up. There’s going to be chop, volatility all along the way on our way to those higher levels. 

Maybe around October, we’ll be seeing $140,000 – $150,000 for Bitcoin.”

Source: Kevin Svenson/YouTube

Looking at the trader’s chart, he seems to suggest that Bitcoin is now escaping base four of the parabolic curve pattern – a phase where BTC will likely witness a blow-off rally before a parabolic burst.

Bitcoin is trading at $116,445 at time of writing.

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