Wide-running crypto analysts believe Bitcoin (BTC) is preparing for its final explosive breakout before the current cycle ends.
In a new strategy session, Benjamin Cowen tells 917,000 YouTube subscribers that the largest digital assets by market capitalization could surge to cycle peaks in a few months based on historical patterns.
“In 2021, after Bitcoin rose in August, I found a local top by the end of August, checked in with the Bull Market Support Band before entering Market Cycle Peak.
Before that, if you go see the cycle, you’ll find Bitcoin will be on the top of your local home at the end of August, and will be on the top of your market cycle after joining the Bull Market Support Band in September.
If you return to the cycle before that, you will notice that Bitcoin will go up in late August and then hit the Bull Market Support Band in September before entering the market cycle peak.
So, if this pattern continues, it suggests that Bitcoin will continue to do well for the majority of the rest of the month, pulling back to the Bull Market Support Band in September, then entering anything that potentially presents a market cycle peak in the fourth quarter of the year. ”
Source: Benjamin Cowen/YouTube
Cowen also states that cycle peaks can hit around 50-60 days, based on the previous two-cycle period.
“Looking at the last two cycles, comparing it to this cycle, the final cycle that was now finished on day 1,006, and the previous cycle ended on day 1,067.
Bitcoin has traded at $120,231 at the time of writing, an increase of 1.3% over the past 24 hours.
https://www.youtube.com/watch?v=tapg7Rem69g
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