Here’s How Bitcoin Can Dodge Massively Bearish Bullet, According to Analyst Benjamin Cowen

Here’s How Bitcoin Can Dodge Massively Bearish Bullet, According to Analyst Benjamin Cowen


Crypto analyst Benjamin Cowen is discussing how Bitcoin can avoid hitting a massively bearish technical indicator.

In a new strategy session, Cowen explains how Bitcoin may be able to steer clear of the “death cross,” or the crossing of the 50 and 200-day moving averages, a move that is generally accepted as a hugely bearish signal for any asset.

 

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As the BTC/USD chart stands, the two moving averages are sloping toward each other and hinting at a potential cross in the coming weeks. According to the closely-followed trader, Bitcoin would need to move up an average of $800 every day in June to prevent the death cross from playing out.

“Even going up $300 a day on average, we’re still going to get a death cross. $400 a day, we still get a death cross. $500 a day, we still get a death cross. $600 a day we still get a death cross.

The way to avoid the

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