Bitcoin’s Future: Key Indicator Revealed by Crypto Expert

In a recent video, crypto expert Benjamin Cowen discusses a key indicator that could influence Bitcoin’s (BTC) future price movements.

Cowen highlights the relative strength index (RSI) as a pivotal factor. This momentum gauge helps assess whether an asset is oversold or overbought.

According to Cowen, Bitcoin’s price peaks consistently align with the RSI encountering a downward resistance trend on two-week candles, a pattern seen as discomforting.

Analyzing historical data, Cowen points out instances where Bitcoin’s RSI hit this upper trend line, coinciding with significant tops in 2011, 2013, 2017, and 2021. Despite past trends, Cowen suggests investors adhere to risk metrics given the uncertain sentiment surrounding current RSI readings.

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Switching to the monthly chart, Cowen explores the scenario where Bitcoin may mimic the 2019 pattern, failing to breach the 66 level initially before potentially reaching the downward resistance level.

He speculates whether Bitcoin could experience a prolonged period akin to 2019, where the monthly RSI declined over nine months following a peak in June, possibly extending into December 2024.

Cowen’s analysis underscores the importance of monitoring these indicators closely for potential insights into Bitcoin’s future trajectory.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.