The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Must Crush This Crucial Price Level To Rejuvenate Bull Market, According to Crypto Strategist Benjamin Cowen

by Daily Hodl Staff
August 9, 2021
in Bitcoin, Trading

Popular crypto trader and strategist Benjamin Cowen says he’s keeping a close watch on a key price level as bulls try to take full control of the Bitcoin market.

In a new strategy session, Cowen tells his 489,000 YouTube subscribers that bulls must convincingly push Bitcoin above the 200-day simple moving average (SMA) to put an end to the bear trend.

“It’s a pretty important line to get above just to rejuvenate the market and say, ‘Hey, we are no longer in a downtrend. We have decisively broken out of it.’

I would say this is a pretty important level, the 200-day SMA. It’s important because it does provide a level of resistance if history is any indication. And whenever we break above it after we come back down, it tends to lead to a pretty explosive move.”

Cowen says that the 200-day SMA, which is currently around $45,000, perfectly lines up with BTC’s lows in February 2021 and the diagonal resistance that has kept the market bearish since Bitcoin topped out in April.

Looking at the weekly timeframe, the crypto analyst says that the 20-week SMA is also hovering around $45,000, making the level an even more significant resistance point for the bulls.

“We need to have a weekly close above the 20-week [SMA] before we can actually test the 20-week [SMA]. It doesn’t make sense to say it’s a test of the 20-week [SMA] if we end up having a weekly close below it because then it was just a wick. Of course, no one who watches this channel, they sure as hell aren’t getting out of bed for a wick…

I think it makes a lot of sense that we’re getting some hesitation here.”

In the last 24 hours, Bitcoin briefly touched $45,282, according to CoinMarketCap. The leading crypto asset has retraced since then and is trading at $43,349 at time of writing.

I

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
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 losses 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.

Featured Image: Shutterstock/alleachday

Submit a Press Release

Industry Announcements

  • R0AR Introduces Unified DeFi Platform for Token, Liquidity and NFT Staking
    June 17, 2025
  • Avail Goes Full Stack To Capture $300 Billion Global Blockchain Infra Market
    June 17, 2025
  • Fans Hash Launches Zero-Barrier Cloud Mining With Daily Payouts and Global Pool Access
    June 16, 2025
  • Universal Digital Inc. Announces Bitcoin Treasury Strategy Across North America and Asia
    June 16, 2025
  • FIFA Rivals Launches Worldwide, Bringing Non-Simulation Arcade Football Action to Mobile Devices
    June 12, 2025
  • Polemos Announces TGE and a Game-Changing Strategic Partnership With BUFF Accelerating Web 3.0 Adoption
    June 12, 2025
  • Bitpanda Opens the Gate to Web 3.0 With Vision (VSN)
    June 12, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$104,705.05
$104,705.05
0.83%
Ethereum
$2,512.37
$2,512.37
1.41%
BNB
$645.25
$645.25
1.19%
Solana
$146.43
$146.43
2.64%
XRP
$2.14
$2.14
2.41%

Spotlight

  • Crypto Analyst Predicts ‘Really Epic’ Next Few Months for Bitcoin, Sees Vertical Phase Coming for BTC
    June 11, 2025
  • Banking Giant Societe Generale To Launch Stablecoin on Ethereum and Solana Blockchains
    June 11, 2025
  • ‘Covert Pipeline for Dirty Money’ – Crypto Firm Founder Facing Multiple Charges After Allegedly Laundering $500,000,000 Through US Financial System
    June 11, 2025
  • Paul Tudor Jones Warns US in a ‘Debt Trap,’ Says Bitcoin Part of ‘Ideal’ Portfolio Strategy To Fight Incoming Inflation
    June 11, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl