Analyst Benjamin Cowen Issues Urgent Bitcoin Alert, Says ‘Death Cross’ Now Looming Over BTC – Here’s His Outlook

Bitcoin

Analyst Benjamin Cowen Issues Urgent Bitcoin Alert, Says ‘Death Cross’ Now Looming Over BTC – Heres His Outlook

Cryptocurrency analyst Benjamin Cowen is highlighting a technical signal that could trigger a massive leg down for Bitcoin (BTC).

In a new strategy session, Cowen tells his 888,000 YouTube subscribers that Bitcoin could witness a death cross “in about one to two weeks” if the status quo remains.

A death cross is a bearish signal that occurs when an assets 50-day moving average crosses below its 200-day moving average.

According to Cowen, a sell-off could precede the death cross.

Source: Benjamin Cowen/YouTube

Based on the traders chart, he seems to suggest that a looming death cross foreshadows a Bitcoin correction, as witnessed in 2019 and 2021.

The widely followed analyst also unveils his outlook in the event that his bearish prediction takes place.

According to Cowen, a drop below $70,000 could mean that Bitcoin has broken the market structure and will not rise above the current all-time high of around $109,000.

If Bitcoin carves a local bottom above $70,000, Cowen says,

Bitcoin is trading at $85,052 at time of writing.