Despite the recent market correction, Bitcoin is still in the middle of a classic bullish trend according to closely followed crypto analyst Benjamin Cowen.
In a new strategy session, Cowen says BTC is showing textbook bullish price action. However, he also mulls over the possibility of Bitcoin collapsing below the bull market support band, which is the combination of the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA).
“This to me seems like an uptrend. It seems like a textbook uptrend. We are in this general uptrend right now, and some people say, ‘could we go lower?’ Yeah of course we could go lower, who cares? Could we go to $53,000? We could… It’s certainly possible that we don’t hold the