Bitcoin Near Critical Technical Zone as Analyst Benjamin Cowen Warns of Potential Downturn

Analyst Benjamin Cowen says Bitcoin is currently trapped between two key technical levels: the Bear Market Resistance Band above and the 200‑week moving average below. The price has been hovering in this range, with recent July gains facing a possible reversal within the next two to four weeks.

Cowen notes that similar patterns occurred in previous four‑year cycles during 2018 and 2022, where July rallies were followed by weakness in August and September. He adds that a 10‑20% correction in the US stock market (S&P 500) later this summer could trigger a final liquidity event and help establish a cycle bottom for Bitcoin in the fourth quarter.

Investors are cautioned to watch these technical signals closely, as the market may be approaching a decisive point that could alter Bitcoin’s short‑term trajectory.