Bitcoin (BTC) is projected to continue its upward trajectory despite experiencing a recent pullback, according to cryptocurrency analyst Kevin Svenson. In a recent video, Svenson, who has a following of 76,100 subscribers on YouTube, asserts that as long as Bitcoin maintains support in the mid to high $50,000 range, a broader parabolic trend will remain intact. He explains that the current lows of Bitcoin are exponentially higher, indicating a parabolic trend that is still in place. However, Svenson warns that if Bitcoin drops below $50,000, it could enter a consolidation phase throughout the summer, resulting in a period of sideways movement and reduced momentum. At the time of writing, Bitcoin is trading at $61,043, representing a 2.6% decrease in the last 24 hours.