Analysis

Bitcoin (BTC) Approaching a Crossroads As Ominous Price Pattern Forms, Says Crypto Analyst Benjamin Cowen

Crypto analyst Benjamin Cowen says that Bitcoin (BTC) is approaching a critical juncture where the flagship cryptocurrency must ultimately choose a direction.

Benjamin Cowen

In a new strategy session, Cowen tells his 725,000 YouTube subscribers that Bitcoin is putting in higher lows in a pattern that resembles other periods in BTC’s history.

According to the analyst, the other times that Bitcoin printed its current market structure were in 2013 when BTC rallied, and in 2018 when it collapsed into a bear market.

“There have been a couple of times where we’ve seen a similar type of price action. One time in 2013, where we also were putting in higher lows. We put in a low, we put in a higher low and then we ultimately went on. And then also in 2018 where were putting in higher lows…

In 2018, we were putting in higher lows and so you could have argued the same thing, but eventually, that low ultimately fell out, and we ended up putting in a lower low.”

Source: Benjamin Cowen/YouTube

With Bitcoin forming a pattern that has historically led to major trend reversals

Cowen looks at what could be next for the leading crypto asset by market cap. In order to regain bullishness and reduce the likelihood of a bear market, the analyst says that BTC needs to reclaim its 200-day simple moving average (SMA), currently located at roughly $49,000.

“If Bitcoin can get the courage to come back up and get back above its 200-day SMA and go into the $50,000 level, then I think that would actually look quite bullish for Bitcoin if we cannot put in a lower low…

What happens if we do put in a lower low? What happens if we do come down and we go down to like the low $30,000 and then we bounce? One thing to consider is that even if we put in a lower low, there’s still a good chance we’ll come right back up to $40,000 or maybe $42,000 to $43,000. There still is a decent chance that that could happen.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

1 hour ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

4 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

6 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

7 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

10 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

13 hours ago

This website uses cookies.