A widely followed crypto analyst is warning that Bitcoin (BTC) may suddenly undergo a massive correction.

In a new strategy session, Benjamin Cowen tells his 850,000 YouTube subscribers that the extension from the 20-week simple moving average (SMA) is flashing bearishness for Bitcoin.

“If you look at the short-term bubble risk, which is also just the extension from the 20-week moving average, you can kind of see it’s in that range where you can find some of these corrections where Bitcoin comes back down to earth.”

The analyst says that a correction could send Bitcoin back to the bull market support band, which is formed by the 20-week SMA and the 21-week exponential moving average (EMA). The band currently covers the range between $72,000 and $80,000.

“There’s a chance that you see Bitcoin fall all the way back to the bull market support band. But remember last time it kind of just consolidated and waited for the 20-week SMA to catch up. So that’s also an outcome.”