A generally followed analyst says that Bitcoin (BTC) could break from his malaise with a huge counter-trend rally.
In a new video update, crypto -strategist Benjamin Cowen tells His 890,000 YouTube subscribers who come a huge test for the upper Crypto assets of Market Cap based on historical trends, one that could see it rise after it can fall to its 2024 highlights near the level of $ 72,000.
According to Cowen, BTC has immediate support in the vicinity of the highlights of March 2024, but can also tap an earlier downward resistance line at around $ 60,000.
‘I still think there is a good chance that Bitcoin will test the High 2024 again, and if it will test that trend line, a kind of lower high trend line, it would probably be a good trade in the short term.
If it would test that trend line all the way down [it] Would be a really good short -term trade by Bitcoin. You will probably get a huge counter-trend meeting of that level, but I would not necessarily be so optimistic for the rest of the cycle if it actually played that way. “
At the time of writing, Bitcoin acts at $ 75,366, a decrease of almost 8% in the last 24 hours.
https://www.youtube.com/watch?v=WYICM53RWMQ
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