Benjamin Cowen expects a fresh bitcoin low by mid-November
- —Cowen: since August, bitcoin has bottomed mid-month and slowed near the 21st
- —Next possible low seen in mid-November, with a local top between Oct 21 and the Nov 3 midterms
- —A drop below $83,000 weakens the pre-election rebound case; 50-day SMA sits near $81,700
- —BTC dominance near 61%, while ETH and altcoin indices trade below their 50-day averages
Why it matters: Cowen's pattern is a watch item, not a forecast: the 50-day SMA, the Fed decision and ETF flows matter more.
Source: Cointribune