BITCOIN in Critical Zone...
Benjamin Cowen described Bitcoin’s (BTC) current situation as “caught between two fires.”
Cowen stated that Bitcoin is caught between technical levels, four-year cyclical dynamics, and global stock market movements, and shared his critical predictions for the coming months.
It was stated that the Bitcoin price has been fluctuating between the Bear Market Resistance Band above and the 200-Week Moving Average below, failing to make a clear directional breakout. It was also mentioned that the seasonal strengthening window behind the rebound seen in July is expected to end within 2 to 4 weeks.
The analyst warned that, as in past midterm election/cycle years (2018, 2022), the gains made in July could be reversed by weakness in August and September
Benjamin Cowen described Bitcoin’s (BTC) current situation as “caught between two fires.”
Cowen stated that Bitcoin is caught between technical levels, four-year cyclical dynamics, and global stock market movements, and shared his critical predictions for the coming months.
It was stated that the Bitcoin price has been fluctuating between the Bear Market Resistance Band above and the 200-Week Moving Average below, failing to make a clear directional breakout. It was also mentioned that the seasonal strengthening window behind the rebound seen in July is expected to end within 2 to 4 weeks.
The analyst warned that, as in past midterm election/cycle years (2018, 2022), the gains made in July could be reversed by weakness in August and September
