Analyst and Trader Kevin Svenson, closely followed in the crypto money market, Bitcoin $104,976.58He argues that he is very close to exceeding record levels. Svenson, social media platform X in his assessment, Bitcoin’s exit formations since April, based on the price of the price in a short time, he said. Bitcoin, the recent price compression upward and potentially aimed at the level of $ 115,000 is said.
Technical Objective in Bitcoin: 115,000 dollars
According to Kevin Svenson, Bitcoin’s upward movements with the latest developments gained momentum. According to the analyst, a new target zone was formed after the break in the four -hour graph. Svenson said that this target was technically measured as $ 115,000. For the time being, Bitcoin’s price was at the time of the news, and there was no significant change in the last 24 hours.
Kevin Svenson: “Bitcoin output (four hours). After crossing the consolidation zone, we had an official goal. Target: 115,000 dollars.”
Fragrance and S&P 500 Effect in the Market
Svenson also draws attention to the role of traditional financial markets in maintaining Bitcoin’s rise. In a statement on YouTube, he emphasized Bitcoin’s historical correlation with the stock market indices. In particular, the strengthening of the S&P 500 index may have a significant impact on Bitcoin price movements.
Kevin Svenson: “Bitcoin looks quite good for me, despite the small rejection experienced before. We test the old resistance as a new support. The main factor allowed the stock market to allow it. The S&P index experienced an extraordinary recovery.
Svenson said that uncertainties are high in the markets and that various scenarios may occur. According to him, Bitcoin may also rise similarly if S&P and other major indices test new summits. However, if resistance in the stock market occurs, it is suggested that the upward movement of Bitcoin may slow down.
Market observers, investors should pay attention to risk and fluctuation factors. Crypto currency and correlation in traditional markets can be effective in predicting Bitcoin’s movements in some periods. Nevertheless, it is shared that it is difficult to make definitive predictions due to volatility in the market.
Market Risks and Warnings
The report reminds that investors should make all kinds of purchase and sale in line with their own decisions. Such analyzes, which do not have an investment proposal, draw attention to the high variability in the nature of the crypto market. In addition, investors should be measured against potential losses in digital assets.
The close relationship between Bitcoin and stock exchanges can increase speculative movements, especially in volatil periods. For this reason, the technical objectives and market interpretations of the analysts are evaluated considering the complex structure of the market. Analysts believe that different financial indicators and indices may continue to have an impact on Bitcoin.
Whether Bitcoin is on a new summit will be shaped by both traditional financial markets and developments in the crypto money market in the coming days. According to technical analysis, although a positive appearance prevails in the short term, investors are cautious about market conditions and possible changes.
According to analysts’ assessments, Bitcoin’s possibility of testing new record levels is technically envisaged. However, the movements of large indices such as S&P 500 and the general risk appetite in the market may be effective in the realization of these predictions. As it is frequently repeated, the importance of taking investment decisions with individual risk assessment is emphasized due to rapid changes in financial markets and existing volatility.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
