BTC is Rising But… $40,000 Bitcoin Prediction from the Famous Analyst Pointing to 2019
Benjamin Cowen, one of the well-known analysts of the cryptocurrency world, shared a graphic explaining where the Bitcoin (BTC) price could move if history repeats itself and there is a correction in the price. The analyst who expressed his opinions on YouTube may have shed light on the future of BTC.
Ultimately (in 2019) there are a lot of similarities in how it plays; You hit a high, then you hit a lower low, and then you drop below the bull market support band. Then you move up again in August, potentially make a lower low in September, and then get back to where we were in January… So if we get a rejection from the 20-week SMA and make a lower low compared to where we are now, then ' You'd have to say, 'Well, the 2019 comparison was valid.'
If Bitcoin does (start to) set these lows now, breaking lower later in September, this will likely correspond to the 100-week moving average, which is exactly where it bounced back after being rejected from the bull market support band (in 2019), which roughly translates to The annual opening will perhaps correspond to around $40,000.
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