Bitcoin (BTC) may have solidified the final base of its multi-month parabolic ascent during the recent correction, according to popular crypto trader Kevin Svenson. With 144,300 followers on X, Svenson shared his analysis, suggesting that Bitcoin has completed base four of its parabolic curve pattern. He provided a chart indicating that Bitcoin is now poised to rally towards the pattern’s price target of $90,000. Svenson also noted that two momentum indicators, the moving average convergence divergence (MACD) and relative strength index (RSI), have recently turned bullish for BTC on the daily chart. Despite this bullish outlook, Svenson clarified that $90,000 is not his cycle peak target and that he expects a major correction after reaching that level. He believes that the Bitcoin bull market is still in its early stages, especially considering the recent BTC halving. At present, Bitcoin is trading at $63,711.