Analyst Draws Attention to Possible Scenarios in Bitcoin

With the leading cryptocurrency Bitcoin exceeding the price levels of $ 28,000, the crypto money market has also been active since the morning hours. Cryptocurrency analyst Benjamin Cowen evaluated the current situation in the cryptocurrency market in his new YouTube post and gave a warning to crypto investors, pointing to the near-term critical price levels for BTC.

Bitcoin (BTC), with its value increases since the morning hours, has exceeded the price levels of $ 28,000. Most altcoins in the crypto money market accelerated their value increases with the effect of the upward momentum in BTC. Ethereum (ETH) started trading at the price levels of $ 1780 after the recent value increases. The total market cap of the cryptocurrency ecosystem has exceeded $1.18 trillion, according to CoinMarketCap data. On the other hand, according to Coinglass data, nearly $200 million worth of short and long positions were liquidated in the last 24-hour period.

Evaluating the current technical view in the crypto money market and pointing to the near-term critical price levels for BTC in his new YouTube broadcast, crypto money analyst Benjamin Cowen stated that Bitcoin has started to consolidate between the price levels of $ 25,000 and $ 30,000 after the price movements recorded in the recent days. However, the analyst shared his thoughts that the current rise is not the beginning of a new bull market yet, and stated that a new downward wave may occur so that Bitcoin can stay above $ 30,000. According to the analyst, higher lows close to the $20,000 price levels could be recorded for BTC ahead of a new bull market.