Popular crypto analyst Benjamin Cowen says one simple indicator with a history of calling Bitcoin bottoms is close to doing so again.
In a new strategy session, Cowen takes a look at the 20-week and 100-week simple moving average (SMA) combo on Bitcoin.
With both SMAs close to converging, Cowen points out that they’ve only ever crossed twice in Bitcoin history, both times marking the bottom of a BTC correction.
“There are two times in history, only two times, where the 20-week SMA crossed below the 100-week… and you might wonder, why does this matter, who really cares, they’re just moving averages, they’re lagging indicators blah blah blah. But let us look to see, was there any significance to the crossing of these two moving