Massive Counter-Trend Rally Could Be Coming for Bitcoin (BTC), According to Benjamin Cowen – Here’s When

A broadly adopted analyst says that Bitcoin (BTC) may get away of its hunch with a large counter-trend rally.

In a brand new video replace, crypto strategist Benjamin Cowen tells his 890,000 YouTube subscribers that based mostly on historic tendencies, an enormous take a look at is coming for the highest crypto asset by market cap, one that would see it skyrocket after it dips to its 2024 highs close to the $72,000 degree.

In response to Cowen, BTC has fast help close to the March 2024 highs, however may additionally faucet a earlier downward resistance line presently at round $60,000.

“I’m nonetheless pondering that there’s a very good likelihood that Bitcoin will retest the 2024 excessive, and if it exams that development line, type of the decrease excessive development line, it could most likely be a very good short-term commerce.

If it had been to check that development line all the best way down, [it] can be a very good short-term commerce by Bitcoin. You most likely get a large counter-trend rally off of that degree, however I wouldn’t essentially be that optimistic for the rest of the cycle if it had been to in reality play out like that.”

At time of writing, Bitcoin is buying and selling at $75,366, down practically 8% within the final 24 hours.

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