Analyst Benjamin Cowen Predicts Bitcoin to Dip Before Reaching $110K
- Market Trend Analysis: Analyst Benjamin Cowen expects Bitcoin (BTC) to continue trending lower before macro liquidity returns, describing the current environment as a 'slow bleed,' indicating potential range-bound movement for the cryptocurrency.
- Technical Indicator Focus: Cowen noted that Bitcoin needs to close above the 50-week moving average for two to three consecutive weeks to confirm a broader reversal, which would lead him to reconsider his bearish outlook.
- Investment Strategy Adjustment: He mentioned that maintaining a partial allocation to Bitcoin helps avoid emotional trading decisions, especially if a counter-trend rally occurs, such as a rise to $100K.
- Historical Cycle Reference: Cowen emphasized that Bitcoin's 'winning strategy' is based on its historical four-year cycle, suggesting that the next accumulation window could arrive in late 2026, following the pattern of buying at the end of midterm years and selling in the fourth quarter of post-halving years.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 57354.001 | 61177 | 64380.091 | 68203.09 | 71406.181 | 75229.18 | 78432.271 |
| Fibonacci | 61177 | 63860.967 | 65519.124 | 68203.09 | 70887.057 | 72545.214 | 75229.18 |
About BTC
About the author
