Analyst Cowen: Bitcoin faces upswing in the fourth quarter!

Analyst Cowen: Bitcoin faces upswing in the fourth quarter!

Analyst Benjamin Cowen is optimistic about the future of Bitcoin (BTC), although cryptocurrency has recorded a decrease of about 12% compared to its all -time high. In a recent strategy session for his 933,000 YouTube subscribers, Cowen explained that the fluctuations in September were typical for post -halving years. His expectations are aimed at a possible improvement in the fourth quarter, even if he is considering a possible weakness in the coming one to two weeks. Cowen's view remains Bullish as long as Bitcoin does not fall below a certain value.

The crucial limit is the Bull Market Support Band, which consists of the 20-week simple moving average and the 21-week exponential moving average. Cowen emphasizes that September served to test this support zone. If BTC falls under these brands, it could fall back on the 50-week average, which has already offered support in this cycle. However, Cowen will only change its optimistic assessment if there is a weekly closing course below the 50-week average. This is "basically less than $ 100,000". At the time of his statement, Bitcoin is traded at $ 109,299.

Market analysis and expectations

The market dynamics and the stressed support levels form the core of Cowen's analysis. He explains that the decline in September is not worrying as long as it remains as part of the statistical standards. Historically, Post-Halving years tend to show September weaknesses, followed by a price increase towards the end of the year. Cowen's analysis not only provides insights into the current market conditions, but also in historical patterns that may be of interest to investors.

A closer look at the level of support could be crucial for traders. In addition to the Bull Market Support Band and the 50-week average, it is primarily price movements that underpin Cowen's forecasts. He remains confident that Bitcoin can find a way back to higher courses if the market data allow this. Cowen's approach could serve as a guide for investors who want to orientate themselves in this volatile market.