Bitcoin back at $81,000: analyst Cowen awaits weekly close above 50-week average
- —BTC at $81,255, 50-week average around $78,785
- —A weekly close above the average would weaken the bearish outlook
- —Cowen: a drop below the average would confirm continuation of the bear market
- —Dollar-cost averaging in the second half of an election year has historically worked
Why it matters: Holding BTC above the 50-week average on a weekly close could ease some bearish expectations and support demand on dips.
Source: Bloomingbit