Famous Crypto Money Analyst Benjamin CowenBitcoin $82,812.19 He warned his investors against a critical technical formation. According to Cowen, if the current market conditions do not change, “Death Cross” may occur in the coming days. This technique is known to have caused heavy price corrections in Bitcoin in the past. Analyst stressed that investors should follow graphic data carefully.
Technical indicators give a red alarm for Bitcoin
Cowen, BitcoinThe 50 -day moving average of the Death Cross formation, which was formed by going below the 200 -day moving average, said. This formation is generally considered as a decrease signal in technical analysis. Cowen reminded that in the past, in 2019 and 2021, similar scenarios were experienced and then serious price corrections came.
According to the analyst technical formation There is a wave of sales often before. Such sales causes panic among investors and causes prices to withdraw even more.
Cowen’s evaluations are an important warning especially for short -term investors. Technical indicators are quite critical by the fact that they are the importance of taking data -oriented position rather than emotional decisions.
Pay attention to the risk of deterioration in Bitcoin’s market structure
Cowen, Bitcoin’in less than 70 thousand levels can disrupt the general structure in the market, he added. He said that the permanence below this level could shake the investor confidence and make the direction of the market uncertain. Analyst, the largest crypto currencyIn case the price of 63 thousand dollars declined to the level of the rising trend, he noted that significantly weakened.
On the other hand, the analyst estimates that Bitcoin remains above $ 73,000, and the current market structure can be preserved. According to Cowen, this threshold plays a critical role in terms of short -term appearance. However, the existing price is thought to be decisive in terms of the continuity of this structure.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
