Bitcoin Wobbles At $107,000: What Does Technical Analysis Say?
Crypto analysts Benjamin Cowen and DonAlt have presented diverging views on Bitcoin’s (CRYPTO: BTC) trajectory following its recent price movements, with one warning of a cycle top and the other eyeing continued upside.
Bearish Case: Has Bitcoin Already Peaked?
Cowen highlighted a historically reliable indicator: the 200-week simple moving average (SMA) crossing above Bitcoin’s prior all-time high. He noted this crossover has previously signaled macro tops, albeit with some variability in timing.
“Every time the 200-week SMA crosses above the previous ATH, a cycle top follows,” Cowen said, referencing past bull markets.
While the 200-week SMA currently sits around $48,715—well below the $69,000 ATH—Cowen cautioned that forward extrapolation is tricky and market conditions could still …
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