Popular crypto trader Benjamin Cowen thinks Bitcoin is looking “incredibly bullish.” More so, the analyst mentions to his 566,000 YouTube followers while talking in a new video. Additionally, Benjamin notes how bitcoin is ready for another run. Saying BTC has passed the three factors it requires to keep going upwards.
Benjamin Three Factors
Firstly, Bitcoin spikes above the 20-week simple moving average (SMA). Secondly, Bitcoin’s chart sees a “golden cross,”. So, Golden Cross happens when a short-term moving average crosses above a long-term moving average. Furthermore, This pattern is seen as good pointer for a breakout bullish run.
Then thirdly, Benjamin says that BTC also hit a higher low.
“Once we got above the 20-week, once we had a golden cross,..”
“the only other thing left to do for Bitcoin? Hold the damn line.” Bemjamin notes,
“If you hold the line, what happens? Clear skies ahead.”
Currently, BTC is trading at $58,025 at time of writing, according to CoinGecko. Notably, The flagship crypto asset by market cap is seeing about 10% rise on the week. Also, over 38% increase in the past 14 days.
Benjamin goes further to say that Bitcoin may have declines in the short-term future. However, he confirms this is not to scare investors. More so, Benjamin says $58,000 is the first area of resistance to watch. Explains further, saying that anywhere between $58,000-$65,000 could see resistance.
Then, Benjamine concludes, “The bears are in disbelief.”
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