Bitcoin: Upcoming Golden Cross | Benjamin Cowen YouTube Video Summary
The host of Benjamin Cowen's youtube channel, dives into discussing what can be learned from the bitcoin death cross. He suggests the death cross often corresponds to local lows, and analyzes historical cycles to support the theory that Bitcoin will make a pull back or a lull during the summer months. The golden cross will be something to watch, but he recommends caution because what has happened in the last two years might not happen again.
Detailed Summary:
Bitcoin's Death Cross Examined
The youtuber Benjamin Cowen dives into discussing the death cross and the golden cross to better understand the direction bitcoin will take and the insights to look out for when it does.
The Bitcoin Death Cross
Benjamin explains that the death cross is generally followed by panic, as you might expect, but historically the pattern is the opposite of what one might think. He goes on to explain that the death cross often corresponds to local lows in the market, and is shown with exhibits dating back to 2023.
Bitcoin Dominance and Awaited Summer Lull
The video explains how Bitcoin dominance has been increasing while alts have not caught up which may lead to weakness again by bitcoin, similar to third quarter behavior in the past. If a lower high is put in, then it creates an argument that perhaps a lower low is in the cards, and to be more cautious of the market, however, he warns that what happened in the past might not happen again. Ultimately, we are left with the theory that the data suggests a lower high, and a potential market consolidation until Q3.