Bitcoin is on the brink of embarking on its final surge in its parabolic trend, according to a prominent crypto strategist. In a recent video update, analyst Kevin Svenson shared his belief with his 142,100 followers on X that Bitcoin is gearing up for a significant rally that could push prices close to $100,000.

Svenson explained, “Bitcoin may be ready to complete the last leg of its parabolic trend, which would be a monumental move. Currently, Bitcoin is in base four. Once we surpass a new high that confirms base four, we could potentially see prices rise towards $90,000. This is a substantial move – going from $66,000 to $90,000 – despite what the weekly chart may suggest.”

The analyst also pointed to indicators that indicate this rally could occur within the next month or two, particularly the weekly MACD (moving average convergence divergence). Svenson emphasized the importance of Bitcoin holding the neutral zone on the MACD, as it signifies strength in a momentum-based trend.

The MACD is a technical indicator that measures the momentum of a trend. Svenson drew comparisons to 2017 when Bitcoin experienced significant rallies after maintaining the MACD neutral zone. He stated, “If we look at 2017, when Bitcoin surged from a few hundred dollars to $20,000, we consistently held the MACD neutral zone during pullbacks. This marked the lows before the subsequent parabolic advances, resulting in substantial upward movements for Bitcoin each time.”

Svenson believes that Bitcoin is currently following a similar pattern, wherein it holds the neutral zone on the MACD, leading to a parabolic advance. He explained, “This will propel us towards the sell point, as per the textbook definition. However, the sell point does not signify the end of the Bitcoin cycle. Instead, it represents the end of the trend, followed by consolidation and a subsequent continuation upwards.”

At the time of writing, Bitcoin is valued at $66,557.

Please note that all opinions expressed in this article are not investment advice, and investors should conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at one’s own risk, and any losses incurred are the individual’s responsibility. It is important to note that The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor.