• 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

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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Congress Proposes AI Kill Switch Legislation

chest

Congress members propose the AI Kill Switch Act to give the federal government authority to shut down AI models.

user avatarEmily Carter

Frax Governance Discusses Proposal for Early Redemptions from Locked Ethereum Pools

chest

Frax governance is discussing a proposal for early redemptions from locked Ethereum pools with a 4% penalty fee directed to the Frax treasury.

user avatarTomas Novak

Frax Governance Proposes Morpho Lending Market for bdUSD and frxUSD

chest

Frax governance is discussing a proposal to create a Morpho lending market for bdUSD and frxUSD to enhance stablecoin liquidity and borrowing demand.

user avatarKaterina Papadopoulou

EigenLayers Forum Engages in ELIP018 Proposal Discussion

chest

The EigenLayers forum is currently engaged in a debate over the draft proposal ELIP018, which introduces a framework known as RETIRE, aimed at providing a terminal exit route for restakers.

user avatarMaya Lundqvist

Uniswap Governance Explores Private Execution Path for Swaps

chest

Uniswap governance is discussing a proposal for an optional private execution path for swaps to enhance user privacy and reduce transaction information exposure.

user avatarLeo van der Veen

Kraken Introduces USDT0 Support on Tempo Network

chest

Kraken has introduced support for USDT0 deposits and withdrawals on the Tempo network, enhancing stablecoin liquidity movement.

user avatarLi Weicheng

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.