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Bitcoin dips below $81,000 as Cowen flags possible retest of support
Bitcoin has fallen below $81,000 before recovering some ground, according to a crypto.news report. The move brings the $80,000 level back into focus, with analyst Benjamin Cowen warning of a deeper retest of support.
Cowen's warning on the 50-day average
Cowen's warning centres on the 50-day moving average. He argues that a daily close below that average could push prices toward the bull market support band, a zone that traders often watch for signs of a broader trend shift.
The report attributes this view to Cowen alone and does not describe the level of support in further detail.
Open questions
- Will bitcoin close a day below its 50-day moving average?
- Will prices test the bull market support band if that average is lost?