Bitcoin (CRYPTO: BTC) has been trading in a range for months, with observers searching for short-term price patterns that could signal where the market may head in the longer run.

Bitcoin Often Rises Before Sharp Bear Market Drops

Prominent analyst Benjamin Cowen said in a March 11 podcast that bear markets in Bitcoin often behave counterintuitively, with prices spending more time drifting upward than falling.

These rallies can last weeks or months, creating optimism that a new bull market has begun before a rapid capitulation pushes prices to a lower low.

According to Cowen, this structure makes bear markets difficult to identify in real time because temporary rebounds often convince…

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