Once upon a time in the land of crypto, a clever chap named Benjamin Cowen, with a following larger than a herd of stampeding elephants, declared that our beloved Bitcoin, after taking quite the nosedive (down to the lowly $70,000s, oh dear!), might just be gearing up for a cheeky little bounce.
With a wink and a nudge, Benjamin whispered to his 1.1 million fans on X, “Keep your eyes peeled, my friends! Bitcoin could be ready to throw a party one of these days!”
“Oh crikey! BTC has dropped below its April 2025 low. If it doesn’t bounce back soon, brace yourselves for a midterm year that’s going to feel like a soggy biscuit. But if it does bounce? Well, we might just skip through the next few months, closer to October, without too much bad price action. Fingers crossed, eh?”
“The bear narrative has been grumpier than a bear with a sore paw for far too long! A countertrend rally is due to pop up like a jack-in-the-box, just to give the bulls a sprinkle of hope-at least until the next storm rolls in!”
“But here’s the kicker! I’ve learned my lessons the hard way before, so I’m steering clear of trading the wild swings. Those sneaky countertrend rallies love to surprise you when you’re not looking, so watch out!” “Historically, a sweep of an old low has offered a bit of relief, even in the glitzy bull markets.”
However, our wise analyst Cowen warns us that Bitcoin might first take a detour down to its cozy 200-week simple moving average (SMA), which is currently lounging around $57,000, before deciding to party again.
“Back in the wild years of 2014, 2018, and 2022, when BTC tumbled below the 100-W SMA, it made a beeline straight to the 200-W SMA before anyone had a chance to catch their breath. The real time to sell BTC was last year, not when the market starts doing the cha-cha during these midterm tumbles! I prefer to keep my gaze on the horizon where late Q3/early Q4 looks much more promising for re-entering the fray with some serious coin.”
“Until then, it’s just folks trying to make a quick buck while navigating the choppy waters of support and resistance levels. Good luck with that!”
As of now, Bitcoin is trading at a mere $73,082, down a jolly 4.1%. Oh, what a rollercoaster ride!
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2026-02-05 12:06