Cryptocurrency analyst Kevin Svenson suggests that Bitcoin might have finished its final dip and is poised to reach $90,000. Svenson, known for his expertise in the field, highlighted bullish signals from indicators like the MACD and RSI for Bitcoin, signaling a positive trend.

According to Svenson, Bitcoin may have completed the fourth dip of its upward trajectory, indicating a strong possibility of reaching the price target of $90,000. The analyst shared a chart predicting Bitcoin's rise to this level, emphasizing the emergence of a parabolic pattern. Svenson expressed confidence in this forecast, underscoring that the trend is becoming evident.

Svenson's optimism stems from the bullish shift in momentum indicators for Bitcoin, particularly the MACD and RSI on the daily chart. He noted that these indicators have turned favorable for Bitcoin after a considerable period, signaling a positive change in the cryptocurrency market sentiment.

Contrary to popular belief, Svenson believes that the bull market for Bitcoin will not culminate at $90,000. He emphasized that while a significant correction may occur after reaching this milestone, the current cycle is still in its early stages. With the recent block reward halving of BTC, Svenson anticipates further upward movements for the cryptocurrency in the future.

As of the time of writing, Bitcoin was valued at $64,177, indicating a slight decline of 1.38% over the last 24 hours.