Bitcoin Primed To ‘See Better Times’ in Q4, According to Analyst Benjamin Cowen – Unless BTC Plummets Below This Level
Analyst Benjamin Cowen says he’s bullish on Bitcoin ( BTC ) despite the crypto king falling by around 12% from its all-time high price.
In a new strategy session, Cowen tells his 933,000 YouTube subscribers that the downturn in Bitcoin is nothing out of the ordinary in the month of September during the post-halving years.
“So, as far as I’m concerned, this is playing out how it always plays out in post-election years, post-halving years. There could still be a little bit more weakness for another week or two. But hopefully we see better times as we get out into Q4.”
Cowen says his bullish bias will remain even if Bitcoin falls below its bull market support band, but not if BTC falls below the 50-week moving average. The Bitcoin bull market support band is composed of the 20-week simple moving average and the 21-week exponential moving average.
“…the whole point of September was that we would spend the whole month testing the bull market support band. If it goes below it, it still has the ability to try to find support at the 50-week moving average, which it’s found support throughout this entire cycle.
I will only flip my bias this early into the last part of the post-halving year if we have a weekly close below the 50-week moving average. As long as it stays above the 50-week [moving average], there’s always hope.”
According to Cowen, the 50-week moving average is “basically below $100,000.”
Bitcoin is trading at $109,299 at time of writing.
Follow us on X , Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Switzerland Delays Crypto Information Exchange Pending International Coordination
- Switzerland delays crypto tax data sharing with foreign nations until 2027, citing unresolved CARF partner agreements. - The OECD's 2022 framework requires member states to exchange crypto account details, but 75 countries including the EU and UK face implementation challenges. - Transitional measures ease compliance burdens for Swiss crypto firms while awaiting finalized international data-sharing protocols. - Major economies like the U.S., China, and Saudi Arabia remain outside CARF due to non-complian
Bitcoin Updates: SGX Addresses Offshore Perp Shortfall as Bitcoin Decline Increases Demand for Hedging
- SGX launched Bitcoin and Ethereum perpetual futures, becoming a first-mover in regulated onshore crypto derivatives to meet institutional demand. - The $187B/year perp market, dominated by Asia, now gains a regulated alternative to offshore platforms with SGX's 22.5-hour trading window. - Perps enable hedging during Bitcoin's 2025 downturn, with SGX's margin-call system prioritizing investor protection over instant liquidations. - Regulatory caution limits access to accredited investors, aligning with gl
Bitcoin News Update: Institutional ETF Adjustments Challenge Key Bitcoin Support Thresholds
- Analysts warn Bitcoin faces 25% drop risk if key support levels fail amid shifting institutional ETF dynamics. - Texas's $5M IBIT purchase highlights growing government interest, but ETFs fall short of direct BTC ownership criteria. - Technical analysis shows Bitcoin trapped in a broadening wedge pattern, with breakdown below $80,000 risking $53k decline. - Institutional rebalancing sees $66M IBIT outflows vs. $171M FBTC inflows, signaling tactical ETF rotation over accumulation. - Abu Dhabi's $238M ETF
XRP News Today: IMF Cautions That Rapid Tokenized Markets Could Intensify Crashes in the Absence of Regulation
- IMF warned tokenized markets like XRP could worsen flash crashes without regulation, citing risks from decentralized systems lacking traditional safeguards. - Report acknowledged tokenization's potential to cut cross-border payment costs but highlighted volatility risks from rapid liquidity loss seen in crypto markets. - SEC's approval of crypto ETFs signals growing institutional acceptance, though regulators emphasize oversight frameworks to mitigate systemic risks. - IMF proposed a global digital marke
Trending news
MoreCrypto prices
More
