Bitcoin bears are out of the revival as the BTC price is ATH. approaching

Analyst Benjamin Cowen says Bitcoin bears have “stood still” as BTC technical indicators continue to trend more convincingly bullish.

In one Strategy meeting Recently, Cowen said that traders who have anticipated a bear market since Bitcoin’s correction in May have no way of justifying themselves on the chart.

No matter what happens in the next days or weeks, the king of cryptocurrencies is still growing significantly.

“Bears are running out of renaissance. I’ve seen them become a little more volatile than they were a few weeks ago and it’s only a matter of time before the bears give up because right now I think they’re a vital support …

Whatever happens tomorrow, whatever happens next week, the advantage is still with the cops. Don’t just look at the tree without seeing the forest, just focus, nothing changes. Ultimately, I think bitcoin bulls will control things and prices tend to be much higher than the very modest $ 64,000 to $ 65,000. ”

Source: Benjamin Cowen

The analyst says his “Cowen Corridor” indicator – which acts as a long-term area showing the lower and upper bounds of any Bitcoin trend – shows that BTC is aiming for $ 103,000. The lower end of the range is $ 26,000.

Source: Benjamin Cowen

Turning to Ethereum, Cowen said the second largest cryptocurrency by market cap is about to breakout and could happen in late 2021 or in a strong 2022.

“I think ETH only accumulates long term and is really trending here … It could be another month or so, but I believe Ethereum will break out at some point and I don’t see the timing for more than three months. I think Ethereum will do well in 2022, but that doesn’t mean it can’t take a big step in 2021. ”

Source: Benjamin Cowen

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