Crypto Analyst Benjamin Cowen Sounds Alarm On Bitcoin's Death Cross, Identifies 3 Critical Levels To Watch Out For
Portfolio Pulse from Mehab Qureshi
Crypto analyst Benjamin Cowen has predicted a bearish trend for Bitcoin (CRYPTO: BTC) despite potential intermittent rallies. He outlined three scenarios following the recent 'death cross rally': Bitcoin might consolidate around $26,700 before declining further, potentially below $24,500; Bitcoin could rise to the 50-day moving average of around $27,600 to $27,700 before declining; or Bitcoin could surge back to just below the recent breakdown point of around $29,200, then fade back down.
September 14, 2023 | 2:08 pm
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Bitcoin's price may experience a bearish trend with potential intermittent rallies. Three scenarios are outlined: consolidation around $26,700 before further decline, rise to 50-day moving average before decline, or surge to just below $29,200 before fading down.
The 'death cross rally' is a bearish signal suggesting a potential shift in Bitcoin's overall price trend. Despite potential intermittent rallies, the analyst predicts a bearish trend for Bitcoin.
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