Although Bitcoin has seen a noticeable rebound following its negative price performance on the red Monday witnessed this week, the asset now appears to be at a critical juncture, according to prominent crypto analyst Benjamin Cowen. Cowen disclosed in a series of posts on X that Bitcoin faces what traders call a “death cross”—a technical chart pattern that could signal either a potential recovery or further losses. However, BTC’s only ability to avoid the further plunge hinges on a notable key price point. Related Reading: Imminent Death Cross Formation Emerges For Bitcoin – Time to Sell or Hold? Key Price Level To Decide Bitcoin Fate Given the current circumstances faced by Bitcoin, Cowen reveals that Bitcoin’s potential to overturn the looming price decline hinges on its performance relative to a key price marker: $62,000. This level is essential for Bitcoin to flip from resistance into support to wave off the bearish implications of the Death Cross. Elaborating on the definition of “death cross,” Traders use this pattern to describe the crossover of the 50-day simple moving ave ..
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