A crypto strategist that the January -bitcoin correction accurately called believes that BTC still has room this year to walk up.
Analyst Benjamin Cowen tells his 987,300 followers on the social media platform X that he sees Bitcoin bringing a “counter -trend” rally to light in the coming months.
But cowing highlights That he closely monitors during this correction to view an important price level for BTC to determine if his bull run is over.
“In principle a large drop in Q1 2025, a counter-trend rally by BTC/USD in Q2/Q3 where most alt/BTC pairs bleed, and then a decrease in Q4 2025, which leads to a recession of 2026.
The unclear part is that if there is a against -trend rally in Q2/Q3, BTC can reach a new high?
My gamble is whether BTC will go <$ 70,000 in the coming weeks, then a future rally will solve to a lower high.
If BTC> $ 70,000 remains, a future rally can still solve to a higher high. ”
A lower high would suggest that the Bitcoin bull market is over, because BTC bulls are not collected enough buying pressure to send the crypto king above its highest peak of $ 108,000.
In the meantime, a higher high would indicate that BTC will rise well above $ 108,000, so that the bull market remains intact.
At the time of writing, Bitcoin acts for $ 86,380.
Days before the top of Bitcoin in January 2025, Cowen predicted that BTC’s meeting above $ 100,000 would hit a brick wall on Trump’s inauguration day. His prediction is based on the idea that the Bitcoin price action will reflect the performance of the Nasdaq Exchange-Traded Fund (ETF) Invesco QQQ, which achieved a local top 13 months after the launch.
At the time, Cowen said that January 20 would mark the 13th month since the launch of the Bitcoin ETFs location.
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Generated image: midjourney