An analyst known for making timely Bitcoin calls believes that BTC is poised to witness steep rallies in the coming months.

In a new video, trader Kevin Svenson tells his 83,200 YouTube followers that Bitcoin appears to be in the final stages of a parabolic trend that began in 2023.

According to Svenson, Bitcoin could ignite a fresh leg up once it takes out its final resistance area at around $110,000.

“It’s going to be a really epic next few months if we do get this breakout, because we are still following the parabolic trend to this day.”

Svenson believes that a breakout will trigger a “blow-off top” for Bitcoin, where BTC will experience a period of rapid price increases before collapsing.

“The next phase is the vertical phase, where you go into a potential blow-off top. A parabola is simply just an exponential trend and it gets steeper and steeper. And because of that, by definition, the parabolic trend it’s unsustainable… 

It’s a trade-off: it gets really, really bullish, and because of that, it’s unsustainable. Eventually, the trend just gives out just like Bitcoin in 2017, 2021. Eventually, the trend will shift back…

But this next push could be until October.”

Looking at the trader’s chart, he seems to predict that BTC will soar to $135,000 in the coming months. At time of writing, Bitcoin is worth $110,085.

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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.

Generated Image: Midjourney

Crypto traders are used to the surge in prices of non-serious cryptocurrencies such as Dogecoin (Doge) as a sign of a market bubble. Now, XRP, a payment-focused cryptocurrency, appears to be able to be used as an indicator of Bitcoin (BTC)’s bull market peak.

Unlike meme tokens like Doge and Shiba Inu (Shib), XRP has a utility. Used by Ripple to facilitate cross-border transactions. This will place it in the bucket.

Still, since 2017, XRP has been the opposite indicator for the Bitcoin Bulls, often trending to surge by hundreds of percent in the final stages of the BTC Bull Run, marking the point where Bitcoin finally peaked.

XRP experienced an astounding ten times more rally from December 2017 to early 2018. This coincided with the Bitcoin peak and the approximately $20,000 peak before entering the bear market that lasted almost a year.

A similar vertical spike in XRP occurred in early 2021, marking another bull market peak for Bitcoin. The XRP surge in late 2024 foreseen the Bitcoin bull market peak above $109,000, then below $80,000.

As said, “It’s likely to happen at least once, twice is coincidence, three times is trending.”

The next time BTC runs in the hot, a savvy trader might want to look at XRP for a potential signal about the end of a bull run.