# Bitcoin is approaching a key bear market resistance band, the 20-week simple moving average and 21-week exponential moving average.

*business · news · 2026-04-09 · Benzinga*

## Key points

- Benjamin Cowen identifies Bitcoin's current rally as a 'textbook' counter-trend move.
- Bitcoin is nearing a key resistance band between the 20-week SMA and 21-week EMA at $78,000-$79,000.
- Cowen estimates a 70%-75% chance Bitcoin will revisit or break below its February lows.
- Key indicators like the MVRV Z-score and supply metrics have not confirmed a market bottom.

[Read the full story on Benzinga](https://www.benzinga.com/crypto/cryptocurrency/26/04/51733428/bitcoin-at-71000-true-recovery-or-bear-market-relief-rally)

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