Benjamin Cowen Says Bitcoin Locked in Bearish Structure Unless This ‘Line in the Sand’ Is Crossed – Here’s His Outlook

Crypto Analyst Benjamin Cowen Warns of Bearish Market Structure for Bitcoin

In a recent update on his YouTube channel, crypto analyst Benjamin Cowen highlighted that Bitcoin is currently stuck in a bearish market structure. He pointed out that historically, Bitcoin has seen lows in February during previous bear markets in 2014, 2018, and 2022, and now in 2026.

Cowen emphasized that despite Bitcoin’s rally into March, he does not see it as a signal of a trend reversal. He mentioned that he would only consider a change in his outlook if Bitcoin manages to convincingly close above the crucial $83,000 mark, which he refers to as the bear market “line in the sand.”

“I think it makes the most amount of sense to say that Bitcoin will likely get rejected… You could argue that as long as Bitcoin is trading below $83,000, nothing’s really changed… this is still just technically a lower high structure.”

Cowen advised traders to exercise caution, noting the potential for seemingly bullish “fake out” behavior in the market, drawing parallels to similar patterns observed in 2022.

“What I think is going to happen in the market is that we will form a lower high and then Bitcoin will just sell off into a lower low.”

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