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Prominent cryptocurrency analyst Benjamin Cowen <\/strong>has shared his thoughts on his YouTube channel about Bitcoin\u2019s<\/strong> BTC\/USD<\/span> future direction.\u00a0<\/p>\n What Happened:<\/strong> He tells his over 725,000 subscribers that Bitcoin is putting in higher lows in a pattern that resembles other periods in BTC\u2019s history.<\/p>\n \u201cThere have been a couple of times where we\u2019ve 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 we’re putting in higher lows,\u201d said Cowen. \u00a0<\/p>\n Cowen also added that \u201cIn 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.\u201d<\/p>\n Also Read:\u00a0$1B In BTC Flows Out Of Crypto Exchange Platforms In Just 24 Hours: Report<\/a><\/em><\/p>\n Bitcoin is forming a pattern, and Cowen looks at what could be next for the leading crypto asset by market cap.\u00a0<\/p>\n \u201cIf 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,\u201d he said.\u00a0<\/p>\n Talking about Bitcoin\u2019s future and how it is going to follow the trend, Cowen said, \u201cWhat 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\u2019s still a good chance we\u2019ll come right back up to $40,000 or maybe $42,000 to $43,000. There still is a decent chance that that could happen.\u201d<\/p>\n At the time of writing, Bitcoin was trading at $40,381.68, up 0.40% in the last 24 hours. However, BTC is down by about 7% in the last seven days.\u00a0<\/p>\n Also Read:\u00a0Gemini Exchange Launches Crypto Credit Card In All 50 States: Here Are The Perks<\/a><\/em><\/p>\n<\/div>\n