Cryptocurrency analyst Benjamin Cowen has identified Bitcoin’s (CRYPTO: BTC) approach to the bull market support band as a key inflection point that could decide its trend for the coming months.
What Happened: In a podcast published on Monday, Cowen explained that this support zone, currently ranging between $88,400 and $95,000, aligns with the 21-week exponential moving average and 20-week simple moving average—technical levels that historically dictate Bitcoin’s momentum.
He noted that Bitcoin’s 30% correction is still within normal bull market parameters.
Bitcoin often bounces back to this support band after corrections, similar to previous cycles.
However, …
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