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

Expert Cowen Forecasts Bitcoin Drop

by

2 hours 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

Share

Other news

Pi Network и слухи о финансировании на 15 миллиардов долларов

Pi Network продолжает привлекать внимание: слухи о финансировании на $15 миллиардов.

20 minutes ago

Pi Network and Rumors of $15 Billion Funding

Pi Network continues to attract attention: rumors of $15 billion funding.

20 minutes ago

Анализ цены XRP: потенциальное движение в диапазоне $0.52-$0.54

Краткосрочный обзор текущей цены XRP. Рассмотрение возможности роста или консолидации в ближайшие дни.

20 minutes ago

XRP Price Analysis: Potential Movement in $0.52-$0.54 Range

Short-term overview of the current XRP price. Considering growth potential or consolidation in the coming days.

20 minutes ago

Виталик Бутерин: Продажа мем-токенов на $340 тыс.

Виталик Бутерин продал мем-токены на сумму в $340 тыс., привлекая внимание к своей стратегии управления портфелем.

20 minutes ago

Vitalik Buterin: Selling Meme Tokens Worth $340K

Vitalik Buterin's sale of meme tokens valued at $340K raises interest in his portfolio management strategy.

20 minutes ago

dapp expert logo
© 2020. DappExpert. All rights reserved.
© 2020. DappExpert. All rights reserved.

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.