Part 2/20:
Ben Cohen highlighted that Bitcoin has experienced similar prolonged sideways trading in past cycles, such as summer 2020 when it hovered around $8-9K before breaking out, and the 2018 mid-year range-bound phase, which eventually led to a significant movement. He suggested that such consolidation phases often serve as "coiling" periods, with a substantial move—up or down—typically emerging within the following two months. His assessment leans toward a probable breakout, with the direction remaining uncertain: bearish or bullish. Cohen's current stance is cautious but slightly leaning toward a breakdown, citing macroeconomic factors like Federal Reserve rate hikes and economic jitters as supportive of a potential downward move.