Benjamin Cowen lists signs that indicate that the first cryptocurrency may continue to rise in price in the near future
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Cryptanalyst Benjamin Cowen is sure that three factors at once indicate the possibility of further growth in bitcoin. The first optimistic factor, according to Cowan, is that the main cryptocurrency was able to rise above the 20-week moving average (SMA). The analyst considers the formed "golden cross" pattern on the bitcoin chart to be the second factor.
The third factor that contributes to the rise in bitcoin price, the rise in price lows of the asset, says Cowan. The analyst claims that the first resistance for bitcoin is at the level of $ 58 thousand. When approaching this zone, the price of the asset may decline in the short term, Cowen predicted. In his opinion, another resistance zone may be in the range of $ 58-65 thousand.
On the night of October 14, the bitcoin rate rose above $ 58.5 thousand. The first cryptocurrency renewed its price maximum since May 10. As of 10:40 Moscow time, the asset is trading at $ 57.5 thousand, over the past day it has risen in price by 5%.