PANews, October 12: Benjamin Cowen, founder of ITC Crypto, posted that Bitcoin’s closing price above $83,000 this week indicates that bulls still hold the upper hand, and bears must prove that market control has shifted. Cowen noted that, based on his past experience, dollar-cost averaging in the second half of U.S. midterm election years has been an appropriate strategy, having worked in both 2018 and 2022, and he hopes it will also succeed in 2026.
Bitcoin closes above $83,000 on the weekly chart, with bulls remaining in control.
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Summary
The Bitcoin chart closed above $83,000 on the weekly market report, indicating that bulls still maintain the upper hand. ITC Crypto founder Benjamin Cowen stated that bears must demonstrate a reversal to gain control. He also noted that dollar-cost averaging in the second half of U.S. midterm years was effective in 2018 and 2022, and he anticipates a similar pattern in 2026.
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