Crypto trader Kevin Svenson is expressing bullish sentiment on Bitcoin (BTC) amid the flagship digital asset revisiting a four-month high.

Svenson tells his 70,500 YouTube subscribers in a new video that once Bitcoin converts a key resistance level into support, BTC could appreciate by about 130% from its current price.

“Ultimately, once we do get above that $32,000 on that resistance and we flip it and confirm it as support, that’s likely going to usher in a huge push towards the all-time high [of slightly over $69,000].”

According to Svenson, the volatility of Bitcoin will rise once the $32,000 resistance level flips to support.

“Once we break above this resistance [$32,000], we start re-entering this range [$32,000 – $70,000], the swings are going to likely start to pick up quickly. Because you can see from $32,000 to the top, to the low, to the top, these swings are pretty rapid.

So once we get above that $32,000 zone, we confirm it as support, the swings will likely start to become more rapid. Even if we don’t break the [all-time] high initially, I think we’re going to see huge volatility above that $32,000 zone.”