Is $65,000 Final Resistance?
Bitcoin analyst Benjamin Cowen believes we are facing the final point of resistance and that is at $65,000; Cowen also believes we might see a drop to the $40,000 level before all time highs:
Critical Time Upon Us As Bitcoin Faces Final Point of Resistance: Crypto Analyst Benjamin Cowen
Cowen believes that the last major obstacle in BTC’s path is to break resistance near $65,000, which is only a 5% move away from current prices.
“Bitcoin had a significant bounce off the 50-week SMA. We moved up in August. We had our September shake-out, which is basically what we said is a very likely scenario, and then we held the line. And I told you after we hold the line we should be able to see clear skies ahead, and I believe that. I do believe we have clear skies ahead…
The only cloud I think is just [resistance at all-time highs], and we have to ultimately break through it, and I do believe Bitcoin will break through it. It just needs time, and we will break through it. Time is on our side.”