Coin-Turk 13 minutes ago
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Bitcoin 
$84,646 is at a critical juncture, as analyst Kevin Svenson notes that the parabolic trend which began at the start of 2023 is being tested. Whether this trend can be maintained will determine the future direction of Bitcoin prices. Technical indicators and market movements suggest that the upcoming weeks will be decisive in shaping market outcomes.
Bitcoin Price Stays Above Critical Thresholds
Currently, Bitcoin is trading just above the parabolic trend. Svenson indicates that if the price can hold this level, the upward movement may continue. However, a breakdown of this trend could lead to inevitable pullbacks. The weekly RSI, a key technical analysis tool, provides significant insights into Bitcoin’s momentum.
According to Svenson, Bitcoin’s horizontal movement cannot last long. It will either follow the trend upwards or retreat to previous lower levels. This critical threshold is considered one of the most important factors determining the future direction of the market.
Possible Scenarios and Market Expe…
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