A trader who continues to build a supporter with timely calls on Bitcoin (BTC) and Altcoins gives a warning for the wider cryptomarkt.
Crypto analyst Benjamin Cowen tells his 1 million followers on the social media platform X that he to see Bitcoin Breaking Support for $ 100,000.
“BTC will probably see again in the Bull Market Support Band, back in the middle of $ 90,000.”
The Bull Market Support Band is formed by the 20 -week Simple Moving Average (SMA) and the 21 -week exponentially progressive average (EMA).
The analyst out His prediction is based on the Bitcoin price action in the past two years, when Bitcoin started rolling and giving up the profits in the third quarter.
“I mentioned on YouTube for a while that Bitcoin would probably show some weakness around mid-June if the Q3 weakness started to present itself.
The same happened in recent years.
I think the next layer is around August/September. ”
At the time of writing, Bitcoin acts for $ 105,092.
Looking at the Altcoin market, Cowen warns That his expected Bitcoin correction will activate a brutal capitulation event for alts.
“It can finally be time to tear the plaster for Alt / BTC pairs.
To the range of lows! ”
A bearish altcoin versus Bitcoin graph indicates that alts lose value faster than BTC.
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Generated image: midjourney