Analyst Benjamin Cowen warns Bitcoin is testing the 'Bear Market Resistance Band,' similar to 2014, 2018, and 2022 midterm election years. He highlights inverse correlation with energy market, predicting summer energy inventory rise may delay Fed rate cuts, challenging crypto bull case.
Popular analyst Benjamin Cowen warns that Bitcoin's current rally is testing the key bear market resistance band, a zone where Bitcoin struggled in 2014, 2018, and 2022. Rising energy prices may force the Fed to delay rate cuts, creating macro headwinds for crypto.
Analyst Benjamin Cowen warns Bitcoin is testing a critical 'Bear Market Resistance Band' similar to 2014, 2018, and 2022. Failure to break above the 200-day moving average could signal weakness. Rising energy prices and delayed Fed rate cuts pose macro hurdles.
Analyst Benjamin Cowen warns Bitcoin is testing a 'Bear Market Resistance Band,' noting historical failures in midterm election years. Rising energy prices may delay Fed rate cuts, creating macro headwinds. The next two weeks are critical, with failure to reclaim the 200-day MA signaling weakness.
Benzinga reported that State Street Energy Select Sector SPDR ETF (NYSE:XLE) outperformed the market over the past five years by 3.61% on an annualized basis, producing an average annual return of 15.42%. A $100 investment made five years ago would be worth $208.74 based on a price of $57.55 at the time of writing.
