Bitcoin Bears Gets Nervous As BTC Threatens All-Time Highs, Says Crypto Analyst Benjamin Cowen – Here’s Why
Crypto analyst Benjamin Cowen says Bitcoin bears are worried as BTC techniques continue to look more and more convincing.
In a new strategy session, Cowen said traders who anticipated a bearish market since Bitcoin’s correction in May had no more ways to justify it on the chart.
He says that no matter what happens in the next few days or weeks, he finally sees the Crypto King crushing considerably higher.
“The bears lack lines to redraw. Saw them around, they’re getting a little more nervous than a few weeks ago, but it’s only a matter of time before the bears have to throw in the towel because in this moment i think they are on life support …
What do we know about Bitcoin? Time is on our side. Whatever happens tomorrow, whatever happens next week, what do we know? Time is on our side. Don’t miss the forest for the trees, stay focused, nothing has changed. Ultimately, I think Bitcoin will prevail and trend much higher than a very modest $ 64,000 to $ 65,000.
The analyst says his “Cowen Corridor” indicator, which is supposed to act as a long-term range showing the low and high of each Bitcoin trend, suggests that BTC is targeting $ 103,000. The bottom of the range is $ 26,000 – but he says he doubts Bitcoin will go there.
Looking at Ethereum, the analyst says the second largest crypto by market cap is very close to bursting, and for a strong 2022 or potentially late 2021.
“I think we’re just in a long build-up and in fact we’re slowly trending up here… It could go on for another month or so, but I think Ethereum will eventually burst, and when I say ‘finally’ I’m not looking more than three months, probably before. I think Etherum will do well in 2022, but that doesn’t mean it can’t move in 2021. “
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