Benjamin Cowen, a popular crypto analyst with nearly 900,000 YouTube subscribers, is predicting a significant price rally for Bitcoin (BTC). He bases this prediction on historical trends.
A Dip Before the Rocket?
Cowen suggests that Bitcoin might dip further before taking off. He points to two potential support levels: the 2024 high near $72,000 and a previous resistance line around $60,000. He believes a retest of these levels could be a great short-term buying opportunity.
The Counter-Trend Rally
According to Cowen, if Bitcoin does dip to these levels, it could trigger a massive counter-trend rally. However, he cautions that this might not necessarily signal a bullish outlook for the rest of the Bitcoin cycle.
Current Market Conditions
At the time of writing, Bitcoin is trading below $76,000, showing a significant drop in the last 24 hours.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money.
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