Analyst and trader Kevin Svenson believes Bitcoin (BTC) is primed to go higher as the flagship crypto asset sits just a few basis points below the all-time high.

Svenson tells his 83,400 YouTube subscribers that whenever the S&P 500 index hits a new all-time high, Bitcoin tends to follow suit.

The S&P 500 index reached a record high of 6,333 points earlier this week.

“Bitcoin is now ready to play out the next major parabolic advance, the next phase of the parabolic trend…

…And if the S&P is stable or trending into new all-time highs, then that will allow Bitcoin to also do the same. It gives speculators confidence to speculate into a new all-time high for Bitcoin.”

After breaking out above the current all-time high of just under $112,000, Svenson says the first major target for Bitcoin is the $120,500 level. The analyst says Bitcoin could then pull back before initiating a parabolic rally.

“If you take a look at the current weekly chart for Bitcoin with the parabolic trend diagram overlaid onto it, you’ll see that we are setting up for the next major parabolic advance. The next major push towards $140,000 to $150,000 is what the textbook suggests. And this could probably take months, many, many months of, you know, movement to get there.”

Bitcoin is trading at $110,936 at time of writing, less than one percentage point below the all-time high of $111,814 reached in May.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A crypto analyst with a history of timely Bitcoin (BTC) calls believes that altcoins are gearing up for a price spike.

In a new strategy session, Kevin Svenson tells his 83,300 YouTube subscribers that he’s keeping a close watch on the OTHERS chart, which tracks the total market cap of crypto, excluding the top 10 digital assets and stablecoins.

Traders keep an eye on the OTHERS chart to gauge the performance of the altcoin market.

According to the crypto strategist, OTHERS appears to be following its 2024 price action, when it went through a corrective period before sparking a parabolic surge toward the end of the year.

Svenson predicts that altcoins will stage another explosive rally if Bitcoin and another asset class soar to new record highs.

“I’m just showing what’s showing up on the chart. The setup is nearly the same.

And this huge run-up when the OTHERS chart went up 140% last time… this happened because Bitcoin and the S&P [500] both broke into a new all-time high at the same time. We saw Bitcoin break a new all-time high recently, but the S&P did not.

So if we both get the S&P and Bitcoin to break out to a new all-time high soon, a move like this [November to December 2024] up to $570 billion for OTHERS, the low-cap altcoins, are very likely, in my opinion, that we’re going to get a major pump.”

At time of writing, OTHERS is trading at $233.72 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) amid a rally of over 10% by the crypto king since the 2025 low reached earlier this month.

In a new strategy session, Svenson tells his 82,800 YouTube subscribers that Bitcoin is looking bullish after the Relative Strength Index (RSI) indicator broke out of a downtrend on the crypto king’s weekly time frame.

The RSI is a momentum oscillator used to determine oversold and overbought conditions.

“Bitcoin has now seen yet another weekly RSI breakout. This is one of the most bullish signals that we’ve seen over the past, well, forever actually. Every time Bitcoin gets one of these weekly RSI downtrend breakouts, we see humongous swings to the upside. These weekly RSI breakouts are no joke.”

According to Svenson, Bitcoin could witness a bullish period that could last into the third quarter of this year if history repeats itself.

“And typically if you do a count [of the weekly RSI breakouts in Bitcoin’s history], these runs last typically about 12 to 14 weeks… which lands us at somewhere in July… or early August. So that means we have multiple months … end of July. Meaning the rest of April, May, June, July to see an uptrend form for Bitcoin.”

The analyst says that over the short term, Bitcoin is likely to trade in a range at roughly between $91,000 and $96,000 before moving higher.

“Bitcoin has made a bullish pivot, we are above the downtrend line…

…we’ve made significant progress over the past two days and there is room for more upside. We’re also sitting at a resistance so likely we get a lot of chop in this zone rather than just expecting straight lines.”

Bitcoin is trading at $93,837 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Cryptocurrency analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC).

In a new strategy session, Svenson tells his 82,800 YouTube subscribers that technical analysis indicators are signaling that Bitcoin could break out from the long-term downtrend that started in December of 2024.

Svenson says that on both the four-hour and the daily time frame, a downtrend line is converging with an uptrend line, a phenomenon that is also being replicated by the Relative Strength Index (RSI) indicator. The RSI is a momentum oscillator that’s used to determine oversold and overbought conditions.

“…so we’re getting a break above horizontal resistance on the daily RSI and the long-term downward sloping resistance. So there is a breakout now confirmed on the daily RSI. And this may be a leading indicator, a leading signal that Bitcoin may also create a breakout in the near term.”

According to Svenson, the Moving Average Convergence Divergence (MACD), a momentum-based technical indicator that is used to determine trends and pinpoint potential buy and sell points, is also flashing a bullish signal for Bitcoin.

“On the daily MACD, the bulls have the momentum as we’re resting right upon resistance. This could give us a reason to believe that we may see a breakout…”

The crypto analyst also says that Bitcoin has formed a bullish ascending triangle pattern on the three-day time frame and could go up by around 13% from the current level.

“To get your target for the measured move, you go from the high to the low of the [ascending triangle] pattern and then extrapolate that onto the potential breakout zone… which is actually giving us a pretty stunning number. I mean $98,000… I guess it’s not too crazy to believe because we had this huge dump. We would basically just be regaining that lost ground from that big week down that we saw.

So right now we may just create a U-shaped recovery that seems to be what we’re setting up for now.”

Bitcoin is trading at $86,551 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Analyst Kevin Svenson is offering his outlook on Bitcoin (BTC) as the flagship crypto asset hovers around 24% below the all-time high.

In a new strategy session, Svenson tells his 82,800 YouTube subscribers that Bitcoin is at a critical juncture that could determine the crypto king’s price direction over the coming weeks and months.

According to Svenson, Bitcoin is sitting just above a parabolic trend that started in early 2023 and the next move the flagship digital asset makes will be decisive.

“…we are currently just above it [parabolic trend line]. But it’s getting a pretty close call here. Bitcoin can’t spend too much time going sideways. And it also can’t spend really any time on the weekly [time frame] going down, without breaking the parabolic trend.

So this is pretty much the last leg – it’s either going to hold here and start to trend upward or it’s going to end up turning into something else. Maybe a sideways low.”

Svenson says that if Bitcoin turns lower instead of going higher, it could plunge to levels last recorded in November.

“The other option is that we just break down and go into, maybe the high $60,000s.

Right now, there are signs pointing to the idea that we may enter a stage where the market is in a lull, where we actually kind of just chop sideways for a while exit, this parabolic trend and go into a more of an accumulation zone.”

Bitcoin is trading at $82,900 at time of writing.

The analyst says that if the bulls prevail, Bitcoin has more upside potential based on the weekly Relative Strength Index (RSI), a momentum oscillator used to determine overbought and oversold levels.

“If Bitcoin plays out a bullish scenario, whether we go up sooner or accumulate for longer, and we run up to a new high a new all-time high, it’s likely that the weekly RSI would actually be at a lower high. Basically testing the overbought zone before pulling back.

And it’s possible that that would be the cycle high. So I do see that Bitcoin could test the overbought levels on the weekly, which means there’s quite a lot of upside to play out before the market gets totally overheated.”

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Cryptocurrency analyst Kevin Svenson is highlighting a potential bullish catalyst for altcoins.

In a new video, Svenson tells his 82,800 YouTube subscribers that an expansion in the global money supply could trigger a rally in altcoins.

According to Svenson, previous altcoin rallies have erupted after an increase in the global money supply.

“Every major bull run for these altcoins… …they really did not start running until global liquidity exploded, you know, went up tremendously…

And what we’ve seen is that until recently global liquidity we were testing the 2022 highs as support just recently… There has been no growth for the M2 (money supply) at all really. But it’s starting to come up… …you can see the M2 is slowly coming up now to a breakout.

And that breakout in global liquidity may be exactly what the altcoins need to start doing something for real.”

The crypto analyst says that he sees altcoins replicating the price action they displayed during the rally that occurred in the fourth quarter of 2024. According to Svenson, the market cap of altcoins could go up by around 190% from the current level.

“If you just extrapolate… It would take us up to $730 billion roughly which would be a new all-time high…

That might be a target zone for altcoins and then they could come back to retest the trend line. And maybe go up later it might just be a very steady uptrend where there’s just a lot of profit taking at every new high.”

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