💦💦Analyst Benjamin Cowen's Warning for Bitcoin: More Than 30% Drop Expected 💦💦

Analyst Benjamin Cowen suggested that Bitcoin is in a possible downtrend. Stating that the price could fall to the $ 42,000 level, Cowen emphasized that the current level is the critical support point of the 100-week moving average. Cowen stated that Bitcoin could face a drop of approximately 32% if it cannot break the upper trend line after the correction it experienced at $ 62,184. In a video on YouTube, he noted that the downtrend would continue if the upper trend line determined by the lower peak series was not broken.

Cowen stated that the current price action could be similar to previous cycles and that if the bulls get tired again, it could retreat to the 100-week moving average, which is $ 42,000. Stating that Bitcoin is currently trading at $61,760, Cowen emphasized that market participants are having difficulty overcoming the current resistance levels and that this could indicate a significant decline.

As a result, Cowen's negative predictions reveal that investors should follow technical indicators carefully. While it is important to evaluate possible risks in case Bitcoin cannot exceed critical levels, investors are advised to be prepared for market movements.

My dear friends, do not withhold your free support. I try to bring you such news instantly. My only request from you is that if there is anyone who still does not follow me, I would be happy if they did. Please do not miss your likes on my articles and posts. Thank you.