Analyst Benjamin Cowen warns: Bitcoin's "golden cross" rally to $81,280 could be a trap.
Crypto analyst Benjamin Cowen noted that Bitcoin rebounded to $81,280 after forming a "golden cross," but this rally might be a liquidity trap. He believes that to avoid a large-scale fakeout, Bitcoin needs to meet two key indicators: first, a decisive breakthrough of the psychological resistance zone, and second, a weekly closing price above the 50-week simple moving average. If these are not achieved, the market might repeat the bearish scenario of 2014-2015, forming a lower high and extending the bear market.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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