Bitcoin (BTC) is 'very likely' to hit $60,000 in the coming weeks, says crypto strategist – but there's a catch

Crypto analyst Kevin Svenson believes Bitcoin (BTC) could rise to a key resistance level before the halving.

In a new strategy session, the trader tells his 72,000 YouTube subscribers that the flagship digital asset's bullish momentum could take it to $60,000 ahead of the April halving, which will see miners' rewards cut in half.

“The area between $57,500 and around $60,000, the trap liquidity target, is the next major resistance area in my opinion. And that's the area I'm targeting as we approach the halving.

If we maintain this momentum, the momentum that we have right now, the trajectory that we're on, it's not really crazy to think that we're hitting the target zone between $57,500 and $60,000. That’s actually very likely.”

Source: Kevin Svenson/YouTube

The trader also warns that Bitcoin could test levels around $44,000 again after the halving.

“After the halving, there is a possibility that we will see a decline to retest support before actually testing new all-time highs.

But before the halving there will be a lot of anticipation and anticipation for positive fundamental events because the halving will likely lead to a lot of optimism, positive sentiment, bullish speculation and depending on what the stock market does, if we reach these price levels there is a possibility that after the halving it will fall to the $44,000 level before rising again.”

Bitcoin is trading at $49,604 at the time of writing, down slightly in the last 24 hours.

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