The leading cryptocurrency, Bitcoin (BTC), after climbing to $30,400 levels in the afternoon, fell again in the evening, starting to trade at $30,230 levels.
Bitcoin’s Current Situation
An analyst evaluating this latest situation in Bitcoin pointed to possible price levels that could play a critical role for BTC in the near term.
In the afternoon, the leading cryptocurrency Bitcoin (BTC), which rose to $30,400 price levels, fell again in the evening and started trading at $30,230 price levels. The cryptocurrency market turned its direction downwards due to the value losses in BTC. The total market value of the crypto ecosystem, according to CoinMarketCap (CMC) data, has receded to $1.18 trillion levels. Ethereum (ETH), which recorded a loss of over 1.2% in the last 24 hours, started trading at $1865 price levels.
Analyst Points to Critical Price Levels
Crypto analyst Michaël van de Poppe, in a series of shares from his Twitter account, evaluated the current technical outlook in Bitcoin and pointed to possible price levels that could play a critical role for BTC in the near term.
In a series of posts from his Twitter account, analyst Michaël van de Poppe emphasized the $30,200 price level. Suggesting that Bitcoin has reached the bottom price levels in the near term, the analyst stated that if the $30,200 price levels are exceeded, BTC could start rising to the next resistance levels.
On the other hand, the analyst also evaluated the current situation in the total market value of the crypto ecosystem. Assessing the current levels of the total market value of the crypto industry positively, the analyst stated that the market might be preparing for a new rise and that the high price movements recorded in the last 24 hours did not change the market structure.
