Bitcoin (CRYPTO: BTC) has rallied into a key bear market resistance zone, but analyst Benjamin Cowen says the move does not yet confirm a rejection or a breakout.
Resistance Zone In Focus
Cowen noted that Bitcoin is testing a major resistance band while also interacting closely with the 21-week exponential moving average (EMA).
He said price briefly touched this level before slipping slightly below it, creating uncertainty over whether the move represents a failed breakout or a temporary wick.
He added that similar price behavior in past cycles, particularly in 2023 and 2024, often preceded either short-lived …