Bitcoin (BTC) has experienced an 11% correction over the past two weeks, dropping from its June high of around $72,000. However, analyst Kevin Svenson believes there is still potential for the cryptocurrency to increase in price. In a video for his YouTube subscribers, Svenson states that if Bitcoin can end the week above the parabolic curve trend line, it could trigger a 42% price increase from its current level. He suggests that if a bullish engulfing candle were to occur, the price could reach $90,000 sooner rather than later. Svenson’s chart indicates that BTC needs to close the current week above $67,000. Despite recent downward price action, Svenson argues that Bitcoin is still in a bull market based on the series of higher lows it has been forming. He notes that Bitcoin is close to its all-time high and still has the potential to create another exponential higher low within a parabolic trend. As of now, Bitcoin is trading at $64,102, down slightly from the previous day.