Posted 1/25/2024, 12:45:44 PM
Bitcoin Analyst Sees Potential Drop Before Next Rally
- Bitcoin showing bullish contrarian signal amid parabolic trendline formation according to analyst Kevin Svenson
- Svenson remains bullish on Bitcoin despite sharp drop from $49K high and negative market sentiment
- Sees Bitcoin potentially dropping to test support around $33K if parabolic curvature breaks
- Targeting bounce from around $33K support before rallying into next Bitcoin halving event
- Bitcoin currently trading around $40K, seeing marginal increase on the day