Analyst Kevin Swenson names the factors that will trigger bitcoin’s growth to $ 100,000

Cryptocurrency analyst Kevin Swenson predicts that bitcoin will rise to $ 100,000. This may happen due to the bullish divergence pattern formed on the bitcoin chart.

Swenson notes that this pattern occurs when the price of an asset declines or remains at the same level, while the Relative Strength Indicator (RSI) shows an increase, indicating an increase in bullish momentum. The chart also shows an expanding pattern with lower highs and even lower lows, which could signal continued growth if bitcoin breaks through the diagonal resistance level.

According to the analyst, if this level is broken through, the price of bitcoin could rise by 60% from current values to around $ 68,000. Using the Fibonacci expansion tool, Swenson identified two other potential targets: $ 88,000 and $ 113,000.

However, the analyst warns that this process may take time, and bitcoin may fluctuate between $ 49,000 and $ 70,000 for a long time before the expected breakout occurs. According to him, the most likely moment for this breakthrough could be in September.

Swenson’s forecast comes at a time of significant volatility in the cryptocurrency market. His positive outlook may inspire optimism among investors, but it is worth remembering the risks associated with cryptocurrency trading.