URL has been copied successfully!
Bitcoin (CRYPTO: BTC) is trading below the key $78,000 level as analysts debate whether the latest rally is a recovery, or another classic bear market trap.
Why Analysts Say This Isn’t “Different”
In a May 18 podcast, Benjamin Cowen argued that bear markets rarely move in straight lines. Instead, they often produce sharp countertrend rallies that make bulls feel right for months before the market eventually breaks lower again.
The comparison many traders are making is to Bitcoin’s prior bear cycles:
- In 2018, Bitcoin bottomed in February, rallied for months and didn’t break those lows until June.
- In 2022, Bitcoin also spent roughly 21 weeks before making a new cycle low.
- Historical bear markets have often taken 19 to 25 weeks before the …
Please follow us:
