{"id":277925,"date":"2024-04-05T12:45:18","date_gmt":"2024-04-05T07:15:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=277925"},"modified":"2024-04-05T12:45:18","modified_gmt":"2024-04-05T07:15:18","slug":"bitcoin-indicator-that-predicted-bull-run-weeks-ago-suggests-btc-pretty-close-to-new-record-highs-kevin-svenson-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-indicator-that-predicted-bull-run-weeks-ago-suggests-btc-pretty-close-to-new-record-highs-kevin-svenson-crypto-news\/","title":{"rendered":"Bitcoin Indicator That Predicted Bull Run Weeks Ago Suggests BTC Pretty Close to New Record Highs: Kevin Svenson &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Cryptocurrency analyst and trader Kevin Svenson is saying Bitcoin (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/currencies\/bitcoin\">BTC<\/a>) could be on the cusp of a significant upward move based on one indicator.<\/p>\n<p>Svenson <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=gpOxsy7ckz8\">tells<\/a> his 74,800 YouTube subscribers that the Relative Strength Index (RSI) oscillator \u201ccan sometimes be a leading indicator\u201d and that it could potentially prove useful in predicting the \u201cnext major move\u201d.<\/p>\n<p>According to Svenson, the RSI indicator on the daily chart is signaling a potential for Bitcoin to rally and break above the all-time high of around $73,800 reached last month.<\/p>\n<p><i>\u201cIf you look at the RSI and you look at all the past price action, the daily RSI downtrend line breakouts are very very good indicators. It usually indicates the next major push to the upside. And now for Bitcoin, we are playing this out once again. Just like the [spot Bitcoin] ETF (exchange-traded fund) approval when we had the sell-the-news event, once we broke the RSI downtrend line that\u2019s when we got new highs in price.<\/i><\/p>\n<p><i>Bitcoin\u2019s daily RSI is once again sitting in another downtrend. And whenever we got these in the past, that usually indicated the next push to new highs. And so we could be pretty close to this happening.\u201d<\/i><\/p>\n<figure id=\"attachment_281851\" aria-describedby=\"caption-attachment-281851\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-281851\" class=\"wp-caption-text\">Source: Kevin Svenson\/YouTube<\/figcaption><\/figure>\n<p>Bitcoin is trading at $66,529 at time of writing.<\/p>\n<p>The analyst and trader says that Bitcoin is forming a bullish pattern and its completion could coincide with the RSI indicator signaling upside potential around April 20th.<\/p>\n<p><i>\u201cWe could actually be breaking out up to new highs during the halving which would be overall very bullish. Because if we\u2019re breaking out during the halving, it\u2019s going to be all over the news. And it\u2019s going to incite a lot of upside pressure, a lot of demand, a lot of bullish price action.\u201d<\/i><\/p>\n<p><iframe loading=\"lazy\" title=\"#BITCOIN | LEADING INDICATOR SIGNAL INCOMING?!?\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/gpOxsy7ckz8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>\u00a0<\/p>\n<p><em><span style=\"font-size: 13pt\">Don&#8217;t Miss a Beat \u2013 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/join-the-daily-hodl-email-list\/\">Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Check <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/crypto-markets\/\">Price Action<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Follow us on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheDailyHodl\">Twitter<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/thedailyhodl\/\">Facebook<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/thedailyhodl\">Telegram<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Surf <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/daily-hodl-mix\">The Daily Hodl Mix<\/a><\/span><\/em><br \/>\n<\/p>\n<div class=\"hideinamp\">\n<p>&amp;nbsp<br \/>\n<img decoding=\"async\" loading=\"lazy\" class=\"\" src=\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\" width=\"800\" height=\"99\" \/><\/p>\n<h6>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 loses 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.<\/h6>\n<\/div>\n<p><span style=\"font-size: 10pt\"><em>Generated Image: DALLE3<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency analyst and trader Kevin Svenson is saying Bitcoin (BTC) could be on the cusp of a significant upward move based on one indicator. Svenson tells his 74,800 YouTube subscribers that the Relative Strength Index (RSI) oscillator \u201ccan sometimes be a leading indicator\u201d and that it could potentially prove useful in predicting the \u201cnext major [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":277926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-277925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/277925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=277925"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/277925\/revisions"}],"predecessor-version":[{"id":277932,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/277925\/revisions\/277932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/277926"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=277925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=277925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=277925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}