Benjamin Cowen, one of the analysts watched in the crypto market, said that Bitcoin could leave the current fall trend and show an important counter -tendency movement in the short term. Based on historical data and technical analysis in the video update, he pointed out that Bitcoin would move upward after a test close to the 2024 summit levels. These statements led to the reshaping of expectations among market participants.
When does Bitcoin rise?
Cowen said Bitcoin found a strong support close to the summit levels in March 2024. However, the analyst also pointed out the past decline tendencies and said that Bitcoin can now touch an old resistance line, which is currently located at the level of approximately $ 60,000. This raised both up and downward movement scenarios of the market.
In the video, the analyst Bitcoin said that there is a possibility of approaching the high levels in 2024, and that an effective upward correction may come in the short term after this test. The prediction that investors can take positions through short -term transactions was tried to be supported with technical analysis data.
Benjamin Cowen: “Bitcoin is likely to re -test the 2024 summit. Testing this trend line can create an appropriate operation opportunity in the short term. However, if the line is completely tested, a short -term correction can be expected, it can be difficult to be optimistic for the later periods of the cycle.”
Bitcoin price
In addition, the analyst emphasized the likelihood of Bitcoin’s recoil at certain levels based on past trends. This pointed out that, as well as short -term price movements, long -term market dynamics should be evaluated. Bitcoin is traded at $ 79,200 at the time of the article.
The fact that the level of 77 thousand dollars in the short term has not been lost permanently is promising for crypto currency investors to recover. We’ve heard a lot of things for the last few hours of the negotiation process on tariffs. However, if mutual retaliation against China turns into a vicious circle, this may cause deeper bottoms in the medium term.
The analysis results can help to create expectations of future price movements by providing concrete data for investors. Technical support and resistance zones are considered critical levels that determine the direction of the market.
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.
