Bitcoin Surges Back To $85,000: What Does The Technical Analysis Show?
As Bitcoin (CRYPO: BTC) has reclaimed the $85,000 mark, cryptocurrency analyst Benjamin Cowen highlights how the apex crypto recovered following its recent death cross.
What Happened: In his latest analysis published on Monday, Cowen points out that Bitcoin has rallied toward its bull market support band. The 21-week exponential moving average is currently at $86,600, and the 20-week simple moving average is at $92,500.
This pattern follows his earlier prediction that Bitcoin would likely experience a sell-off before the death cross followed by a rally afterward.
Cowen notes this pattern has occurred consistently in recent years. Bitcoin found local bottoms around death cross events in 2023, 2022, and even 2019.
The key question is whether the current rally will lead to a higher or …
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