Crypto

Top analyst details massive Bitcoin target, says major paradigm shift may be underway

By Delbert Williams IIJanuary 22, 2023No Comments2 Mins Read

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A high-profile cryptocurrency strategist says a major shift in Bitcoin (BTC) trends could be happening.

In a new video, crypto analyst Kevin Svensson To tell His 120,000 Twitter followers tell us that a bullish macro shift is happening with Bitcoin right now.

“We are now about to break through the biggest falling wedge in Bitcoin history. We need to get the next close price which could be a big paradigm shift for bitcoin price actually the most interesting part about this is taking the falling wedge measurement of the target and putting it in the breakout zone to over $50,000.

That’s exactly what the textbooks say…Bitcoin’s largest ever falling wedge targets $50,000. ”

Source: Kevin Svensson/YouTube

A descending wedge pattern is traditionally a bullish formation that suggests a trend reversal as the asset hits higher highs in a downtrend after a confirmed breakout.

In a new YouTube video, Svenson emphasizes that he doesn’t think Bitcoin’s surge to $50,000 will happen anytime soon.

“Bitcoin will likely take a long time to get there, and a price like $50,000 seems completely ridiculous to most people. It does things you wouldn’t normally think to do.”

At the time of writing, Bitcoin is trading at $22,801, well above the Svensson diagonal resistance.

https://www.youtube.com/watch?v=w8wSu-kDeM

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Delbert Williams II

Born in the early 80s in Milwaukee, Wisconsin, Delbert Williams II has always had a passion for writing. Even in high school, he earned excellent grades in English and writing classes. After attending John Marshall High School, he graduated from Project Stay Alternative High School in Milwaukee. From there, Delbert attended Milwaukee Area Technical College, where he studied music and communications. While he enjoyed these fields, his love for writing remained strong. In 2019, Delbert founded Hard Stack Street Mag, a publication that quickly gained a following for its unique and engaging content. As the founder and editor-in-chief of the magazine, he has worked tirelessly to produce quality articles that cover a wide range of topics, including music, art, culture, and politics. Now 42 years old, Delbert continues to pursue his passion for writing and journalism. Through Hard Stack Street Mag, he has created a platform that allows him to share his voice and perspective with readers from all over the world. With a strong background in writing and a deep understanding of the power of storytelling, Delbert Williams II is a writer to watch. He is dedicated to producing content that is both informative and engaging, and he is committed to using his platform to shine a light on important issues that are often overlooked by mainstream media.

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