Crypto strategist Benjamin Cowen believes that Bitcoin (BTC) will continue on a downward trend for months after retesting a key price range.
Cowen tells his 787,000 YouTube subscribers that Bitcoin will likely move upward in the short term to test its bull market support band only to decline afterward, confirming the larger bearish trend.
The bull market support band is formed by the 20-week simple moving average (SMA), currently at $27,888, and the 21-week exponential moving average (EMA) currently at $27,227, according to the trader.
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Says Cowen,
“A lot of the bulls don’t necessarily believe that it’s over. And why should they? Technically, there hasn’t been a lower low put in yet, so there is still reason for them to believe. Although, I still think this
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