• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Expert Cowen Forecasts Bitcoin Drop

user avatar

by Giorgi Kostiuk

a year 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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Sweden's Unique Market for Crypto ETPs

chest

Sweden's high financial literacy and widespread digital adoption create a favorable environment for cryptocurrency exchange-traded products (ETPs).

user avatarRajesh Kumar

Ondo Price Faces Major Supply Change Ahead of Key Liquidity Event

chest

The Ondo price is experiencing volatility ahead of a significant supply increase, with traders closely monitoring the situation.

user avatarGustavo Mendoza

Arthur Hayes Allegedly Acquires HYPE Tokens Amid Speculation

chest

Reports suggest that Arthur Hayes has recently acquired HYPE tokens, but there is no primary source confirmation to substantiate these claims.

user avatarMiguel Rodriguez

Jerome Powell's Letter to Senators on Fed Renovation Sparks Investigation

chest

Jerome Powell's letter to bipartisan senators regarding the $25 billion renovation of the Fed's headquarters has sparked a criminal investigation by the Department of Justice.

user avatarLuis Flores

PumpFun PUMP Price Breaks Out of Compression Phase

chest

The PUMP price has shifted out of a prolonged compression phase, indicating a change in market behavior and a potential for early expansion.

user avatarArif Mukhtar

Ripple's Promotion Challenges Due to SEC Lawsuit

chest

Bill Morgan discusses Ripple's inability to promote XRP due to legal issues with the SEC.

user avatarMaria Gutierrez

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.