“Bitcoin Mid-Cycle Top? Cowen’s Indicator Signals Potential Downtrend”

Bitcoin May Be Entering a Downtrend, Warns Analyst

Popular crypto analyst Benjamin Cowen suggests that Bitcoin (BTC) may be entering a downtrend, according to a new strategy session. Cowen points to the extension from the 20-week simple moving average (SMA) as a bearish indicator for Bitcoin. He notes that previous market cycles have shown that when the extension from the 20-week SMA reaches a certain level, it often marks a mid-cycle top for Bitcoin.