{"id":9396,"date":"2022-03-02T00:52:20","date_gmt":"2022-03-02T00:52:20","guid":{"rendered":"http:\/\/egrowonline.com\/?p=9396"},"modified":"2022-03-02T00:52:20","modified_gmt":"2022-03-02T00:52:20","slug":"stock-market-hinting-at-a-bitcoin-reversal-crypto-analyst-benjamin-cowen-looks-at-under-the-radar-price-action","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=9396","title":{"rendered":"Stock Market Hinting at a Bitcoin Reversal? Crypto Analyst Benjamin Cowen Looks at Under-the-Radar Price Action"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>A closely followed crypto analyst is assessing how the stock market will impact the price of Bitcoin (BTC) moving forward, as the top crypto asset begins to break its correlation with global markets.<\/p>\n<p>In a new strategy session, Benjamin Cowen <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=QanhgG7otwI\" rel=\"noopener\">tells<\/a> his 716,000 YouTube subscribers that while he expects the stock market to have a significant impact on the price of crypto assets, he highlights a new development that bodes well for BTC.<\/p>\n<p><em>\u201cOne of the things that I think will probably dictate what crypto does to some extent is the stock market. What are the S&amp;P and Nasdaq doing? <\/em><em>What\u2019s interesting to me is that the Nasdaq put in a lower low, but Bitcoin did not.<\/em><\/p>\n<p><em>I think that looks pretty good for Bitcoin.\u201d<\/em><\/p>\n<p>According to Cowen, traders should monitor the performance of Bitcoin relative to the bull market support band as it can be a signal for altcoins to start rallying.<\/p>\n<p>BTC\u2019s bull market support band is currently hovering around $47,000. At time of writing, <a target=\"_blank\" href=\"https:\/\/dailyhodl.com\/currencies\/bitcoin\/\" rel=\"noopener\">Bitcoin<\/a> is trading at $44,109.<\/p>\n<p><em>\u201cThe reason I care about it is because we know that the altcoin market behaves differently when we\u2019re above it or below it. <\/em><em>It doesn\u2019t matter where it is, is the thing.<\/em><\/p>\n<p><em>When Bitcoin was above it back in the summer of 2020, a lot of people made a lot of money. We were watching all sorts of altcoins just go flying off the rails.<\/em><\/p>\n<p><em>People still made a lot of money even though Bitcoin was only $10,000. Why? Because it was above the bull market support band. <\/em><em>When it\u2019s below it, not a lot of altcoins did much.\u201d<\/em><\/p>\n<p>Looking closer at the correlation between Bitcoin and the stock market, Cowen divides BTC by the Nasdaq. Based on Cowen\u2019s analysis, he expects BTC to steadily outperform the Nasdaq in the coming weeks.<\/p>\n<p><em>\u201cBitcoin goes through these bullish phases against the Nasdaq as well as bearish phases.<\/em><\/p>\n<p><em>Right now, we\u2019re sort of at the bottom of this line, so hopefully, we\u2019ll come back up to the top.\u201d<\/em><\/p>\n<p>The analyst is also keeping a close watch on Bitcoin\u2019s bull market support band, a technical indicator that combines BTC\u2019s 20-week simple moving average (SMA) and 21-week exponential moving average (EMA).<\/p>\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Bitcoin Bull Market Support Band\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/QanhgG7otwI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p><span style=\"color: #ffffff\">I<\/span><\/p>\n<p><em><span style=\"font-size: 13pt\">Check <a target=\"_blank\" href=\"https:\/\/dailyhodl.com\/crypto-markets\/\" rel=\"noopener\">Price Action<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Don&#8217;t Miss a Beat \u2013 <a target=\"_blank\" href=\"https:\/\/dailyhodl.com\/join-the-daily-hodl-email-list\/\" rel=\"noopener\">Subscribe<\/a> to get crypto email alerts delivered directly to your inbox <\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Follow us on <a target=\"_blank\" href=\"https:\/\/twitter.com\/TheDailyHodl\" rel=\"noopener\">Twitter<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/thedailyhodl\/\" rel=\"noopener\">Facebook<\/a> and <a target=\"_blank\" href=\"https:\/\/t.me\/thedailyhodl\" rel=\"noopener\">Telegram<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Surf <a target=\"_blank\" href=\"https:\/\/dailyhodl.com\/daily-hodl-mix\" rel=\"noopener\">The Daily Hodl Mix<\/a><\/span><\/em><br \/>\n<\/p>\n<div class=\"hideinamp\">\n&amp;nbsp<br \/>\n<a target=\"_blank\" class=\"maxbutton-4 maxbutton maxbutton-check-out-the-latest-headlines-bigger\" href=\"https:\/\/dailyhodl.com\/news\/\" rel=\"noopener\"><span class=\"mb-text\">Check Latest News Headlines<\/span><\/a><\/p>\n<p>\u00a0<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/i0.wp.com\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png?resize=800%2C99&amp;ssl=1\" width=\"800\" height=\"99\" data-recalc-dims=\"1\" \/><\/p>\n<h6>Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n<p><em><span style=\"font-size: 10pt\">Featured Image: Shutterstock\/NEWSATR<\/span><\/em><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/dailyhodl.com\/2022\/03\/01\/stock-market-hinting-at-a-bitcoin-reversal-crypto-analyst-benjamin-cowen-looks-at-under-the-radar-price-action\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A closely followed crypto analyst is assessing how the stock market will impact the price of Bitcoin (BTC) moving forward, as the top crypto asset begins to break its correlation with global markets. In a new strategy session, Benjamin Cowen tells his 716,000 YouTube subscribers that while he expects the stock market to have a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[1050,646,2623,50,2624,62,5741,219,195,2115,593,5019],"class_list":["post-9396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-action","tag-analyst","tag-benjamin","tag-bitcoin","tag-cowen","tag-crypto","tag-hinting","tag-market","tag-price","tag-reversal","tag-stock","tag-undertheradar"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/hinting-at-bitcoin-reversal.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9396"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9396\/revisions"}],"predecessor-version":[{"id":9398,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9396\/revisions\/9398"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/9397"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9396"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}