Analyst Benjamin Cowen Bitcoin in recent evaluations $111,030.01He pointed out that he could experience a withdrawal after reaching his new summits. Cowen has raised the possibility of a possible short -term depreciation by looking at existing technical indicators and past price movements.
BTC Golden Cross and historical examples
Cowen said Bitcoin approached a technical formation in the daily graph that was known as “Golden Cross ve and formed by the upward cutting of the 200 -day moving average of the 50 -day moving average. This indicator, which was generally considered a positive market sign, previously resulted in short -term price decreases in Bitcoin. Analyst emphasized that there were various corrections after Golden Cross in previous years.
In this context, Cowen, 2015, 2019, 2020 and 2021 in the period of Golden Cross, Bitcoin reminded significant losses. Stating that the decline in 2015 is a deeper correction, Cowen said that similar movements have been seen after this formation in recent years.
Benjamin Cowen: “When the Golden Cross was formed, we usually saw a correction. In 2019, 2020 and 2021, there was a withdrawal after Golden Cross. In 2015, this correction was quite deep.”
BTC possible scenarios in the short term
The analyst argued that after the formation of this formation, it would be possible to fix a 10 %to 15 %in Bitcoin. In other words, after a new Golden Cross, investors may face a double -digit decline in prices in the short term.
Benjamin Cowen: “When we examined the previous Golden Cross, there was a decrease of around 10-15 %.”
According to Cowen, the expectations of investors are increasing with the rise and much higher price forecasts are discussed in the short term. However, the withdrawals bring a balance to the market and limit extreme optimistic predictions. The correction that may occur after the Golden Cross may allow the excitement in the market to be subsided for a while.
Benjamin Cowen: “After the Golden Cross, prices are generally increased and investors started to wait for higher levels. However, there was a withdrawal and the market was balanced.”
Now we have a good news and bad news. After Cowen made this estimate a few days ago, BTC fell from the summit with the latest Trump statements. Bad news is the fact that the decline is not double -digit and may be a deeper correction again. If the date is going to repeat, the BTC can be withdrawn to the $ 101 thousand dollar band.
Technical analysis indicators and historical price movements can help investors identify future strategies. However, it should be taken into consideration that no technical indicator does not provide precise results. Investors should consider that it may be useful to diversify their portfolios and follow the news flow in the market in the face of possible fluctuations.
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.
