Cowen: a second weekly close below $83,000 could send bitcoin to $75,000
- —Trigger is a second straight weekly close below $83,000
- —Support zone at $70,000–79,000; a break risks a move below $69,000
- —Cowen cited false breakouts in 2015 and 2022 as precedent
- —A US stock market correction before the November 3 midterms could add pressure
Why it matters: Gives traders clear levels to watch: losing $83,000 and then $79,000 could accelerate selling and undermine the bullish trend.
Source: BitNovosti
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