Expert Cowen Forecasts Bitcoin Drop

user avatar

by Giorgi Kostiuk

2 years ago

Cryptocurrency expert Benjamin Cowen presents a pessimistic outlook for Bitcoin (BTC) due to a recent correction.

Critical Price Levels

In a YouTube video, Cowen stated that if Bitcoin cannot break through the upper trend line formed by lower peaks since March, the downward trend will continue to around the $42,000 level.

100-Week Moving Average

Cowen emphasized the $42,000 level's importance, noting the 100-week moving average resides there. "If Bitcoin fails to breach this upper trend line and declines, it could return to $42,000," Cowen noted.

Comparison with Previous Periods

Cowen referenced Bitcoin’s price movements in previous cycles, indicating a potential repetition if the upper trend line is not breached. [quote: "If Bitcoin cannot breach this lower high structure, focus should shift to the 100-week moving average," remarked Benjamin Cowen.]

Cowen’s forecasts about Bitcoin's decline trigger concern among market participants, urging caution and technical analysis.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Jay Clayton Transitions from Crypto Regulation to AI Leadership

Jay Clayton transitions from regulating cryptocurrency to leading U.S. government's AI initiatives.

user avatarDavid Robinson

Trump Launches New Task Force to Lead in Artificial Intelligence

President Trump has announced the creation of a Super Intelligence Force to coordinate federal efforts in maintaining U.S. leadership in artificial intelligence.

user avatarAndrew Smith

Getty Images Stock Trading Suspended by NYSE

The New York Stock Exchange has suspended trading of Getty Images stock as of September 29, 2023, due to the company's ongoing financial issues and significant debt.

user avatarJacob Williams

Getty Images Faces Bankruptcy Risks Amid Rescue Financing Talks

Getty Images is in confidential discussions with lenders for a rescue financing deal, which may lead to bankruptcy and a lender takeover.

user avatarZainab Kamara

Tavus Launches Griffin, a Revolutionary AI for Human Interaction

Tavus introduces Griffin, an AI model that convincingly simulates human conversation during live video calls.

user avatarAyman Ben Youssef

Griffin Outshines Previous AI Models in Live Conversation Tests

Griffin outperforms its predecessor GriffinLite and other AI models in live conversation tests.

user avatarSon Min-ho

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.