The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Analyst Benjamin Cowen Warns Bitcoin (BTC) Traders Should Be Prepared for More Bear Market Action

by Daily Hodl Staff
May 18, 2022
in Bitcoin, Trading

A popular crypto analyst is using a refined technical analysis metric to plot out where Bitcoin (BTC) is headed as the markets try to recover from a rocky few weeks of trading.

In a new strategy session, Benjamin Cowen tells his 741,000 YouTube subscribers he prefers to use Heikin-Ashi candles when analyzing Bitcoin because the metric tells a more comprehensive story about price action by including data from the preceding two candles.

“The reason we look at Heikin-Ashi candles is because if you don’t and you just look at normal candles where the color of the candle is only dependent on the open and close, it doesn’t tell the same type of story or narrative that really wants to be told. In an uptrend, you will still see red candles, and in a downtrend, you’ll still see green candles.

Heikin-Ashi candles not only account for the open and close, they also account for the high and the low and they are dependent on the candles that come before them. Because of this, it is a more useful way of measuring the momentum of the market and it helps you sort of cut out the noise of all short-term moves back up to the upside.”

Cowen dives into BTC’s chart behavior over the past several bear cycles and suggests investors could see disappointing numbers until this coming fall.

“That’s why I’m saying that people need to be prepared for this bear market to continue dragging on, if history is any indication we recognize that when we’re in a bear market we know that things like the 200-day moving average when they’re starting to hold as resistance, this is a fairly good indicator of in fact a bear market.”

The crypto analyst concludes by highlighting the pattern of back-to-back red candles on 3-month candles over the life of Bitcoin dating back to its inception in 2011.

“Let’s go look at Heikin-Ashi candles on the quarterly. Now this one is very interesting because if you look at quarterly Heikin-Ashis, you can see that there’s one period where we had three in a row, one period where we had four, another period where we had four, and then another one where we had two.

So the average, out of all 13, you divide that by four, a little over three is sort of the average on that. So you could argue that the expected quarters where these are going to stay red would be a little over three, meaning that even next quarter could still come in red.

The funny thing is next quarter could be a green quarter but the Heikin-Ashi could still be red just because it’s carried over from the momentum of the prior quarter as well, so you have to remember that.”

Source: Benjamin Cowen/YouTube

At time of writing, Bitcoin is up 1.58% over the last 24 hours and trading for $30,235.

I

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

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
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.

Featured Image: Shutterstock/Tharin kaewkanya/Andy Chipus

Submit a Press Release

Industry Announcements

  • Narwhal Finance Secures $1 Million in Seed Funding Led by Animoca Ventures
    March 24, 2023
  • Sports Prediction App Pooky Launches Full Version of Its Play-and-Earn Game
    March 23, 2023
  • StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading
    March 23, 2023
  • KyberSwap Announces First-Ever ARB Token Liquidity Pools, Liquidity Mining and Trading Campaigns on Arbitrum
    March 22, 2023
  • Metacade Presale Hits Final Stage Before Listings, Raising Over $500,000 in Under 24 Hours
    March 22, 2023
  • Yesports Launches the Largest Esports Marketplace for Gaming Expansion Into Web3 Alongside 40+ Partners
    March 21, 2023
  • Metatime Raises $11M in Private Funding To Enhance Web 3.0 Ecosystem
    March 21, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,854.46
$27,854.46
0.53%
Ethereum
$1,768.65
$1,768.65
0.7%
Cardano
$0.356382
$0.356382
0.21%
XRP
$0.451032
$0.451032
2.69%
Dogecoin
$0.074737
$0.074737
0.44%

Spotlight

  • Massive Bullish Catalyst for Bitcoin Looming As Accumulation Spikes, Says Galaxy Digital – But There’s a Catch
    March 24, 2023
  • Ripple President ‘Very Hopeful’ of a Win in SEC Lawsuit Against XRP, Predicts When Ruling Is Likely To Be Ready
    March 24, 2023
  • Arbitrum (ARB) Daily Transactions Pump to All-Time High as Ethereum (ETH) Scaling Solution Launches Airdrop
    March 24, 2023
  • 56,006,787,000,000 Shiba Inu (SHIB) Worth Over $600,000,000 Now Held by Top Ethereum Addresses: WhaleStats
    March 24, 2023
NBX Warsaw Summit Banner
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

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl