Bitcoin’s Price Outlook Amidst Warning of a Potential Death Cross
Recent price action has raised concerns that Bitcoin (BTC) could be poised for another decline, with the daily closing price indicating potential weakness. Bitcoin miners may be crucial in preventing a sharp plunge, provided the exchange flow remains stable. Benjamin Cowen, the founder of Into The Cryptovers, has suggested that Bitcoin could be heading towards a death cross . Cowen shared his Analysis on X (formerly Twitter), emphasizing that a death cross could lead to lower highs , which are already starting to manifest. A death cross occurs when the short-term Moving Average (MA) falls below the long-term MA, typically signaling price weakness in Bitcoin’s market chart. The presence of lower highs , where the closing price is lower than the high of the previous day, could further contribute to Bitcoin’s potential decline. Cowen had previously predicted lower highs for Bitcoin on September 12 when BTC was heading towards $27,000. However, Bitcoin’s price actio...