Crypto Trader Issues Bitcoin (BTC) Alert, Says Capitulation May Be Incoming – Here’s His Target

Crypto Trader Issues Bitcoin (BTC) Alert, Says Capitulation May Be Incoming – Here’s His Target


Widely followed crypto analyst Benjamin Cowen says that a strong capitulation for Bitcoin might be needed before traders can start talking about a bullish reversal.

In a new strategy session, Cowen says that previously, he called for a capitulation to fuel the next leg of the Bitcoin’s bull run but never really got what he was looking for.

With BTC collapsing under the $40,000 level for the third time, the closely followed analyst is now looking at what a potential capitulation would look like.

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Cowen points to three of the most important long-term moving averages that have held BTC up at support in its multi-decade growth trajectory, which are the 300-week, 200-week and 100-week moving averages. He says a dip below the 100-week simple moving

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