June Rally Incoming?
Tomorrow is the first of June already and we are sitting at the mid-$31K level this morning – rally incoming? Benjamin Cowen believes so
Bitcoin To Explode Higher Next Month? Crypto Analyst Benjamin Cowen Says Three Metrics Suggest June Rally Incoming
“Popular crypto analyst Benjamin Cowen says three metrics indicate Bitcoin (BTC) could see a price bounce in June.
In a new strategy session, Cowen tells his 746,000 YouTube subscribers the first metric pointing to a Bitcoin rally is a correcting US dollar currency index.
‘We know that the US dollar currency index, when it’s moving higher in a parabolic rally, we know Bitcoin goes down. We’ve seen this many times in the past. And furthermore, if we just simply pull it up, you can see that over the last several months, the dollar has been in a parabolic rally.
However, recently, you can see it’s pulled back a bit. Now that does not – unfortunately – mean that the dollar rally is over. It could just be taking a break for a while. But certainly looking at the dollar have this pullback leads us to believe that risk-on assets could start to do well for a few weeks.’”
