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Cryptocurrency trader Benjamin Cowan believes that bitcoin has extremely bullish prospects
According to him, bitcoin has completed 3 tasks necessary for further growth.
Firstly, Bitcoin has risen above the 20-week simple moving average (SMA). Secondly, there was a “golden cross” pattern on the bitcoin chart, which occurs when the short-term moving average crosses the long-term moving average. This technical pattern is often regarded as an indicator of a rapid rally coming soon. And third, BTC has reached higher lows:
“When bitcoin managed to go above the 20-week simple moving average and when the “golden cross” appeared, the only thing left for bitcoin to do is to keep the desired level. What will happen next? And then there are no limits to growth”
Cowan noted that in the short term, bitcoin may have exchange rate reversals, but this should not frighten investors. According to him, $58,000 is the first resistance area to pay attention to. Although between $58,000 and $65,000, resistance can be at any point.
“The bears are completely at a loss,– the trader summed up
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