• Bitcoin (BTC) has made three attempts since February 16th to break the $25.2k resistance before it can continue on a significant uptrend.
• BTC has gained 15.1% since February 13th and is currently trading at $24,780, attempting to flip the resistance to support.
• If successful in flipping the $25.2k resistance to support, Bitcoin could rally to $30k before its next resistance.
Bitcoin Attempts To Flip Resistance
Bitcoin (BTC) has been making attempts since February 16th to break above the critical $25.2k level before it can proceed on an uptrend. The price of Bitcoin (BTC) surged close to $25,000 in its third attempt, gaining 15.1% since February 13th and pushing year-to-date gains up by 48.9%.
Why Is The $25.2K Level Significant?
The 2017 rally saw the price of Bitcoin explode from $900 and make a run close to $20,000 which is why investors and traders are ecstatic about the price of bitcoin rallying above this level as it could lead to a surge up towards $30k if flipped successfully from resistance into support zone.
What Does Bitcoin Need To Do?
For Bitcoin to break above this level there needs to be a strong bullish momentum driving demand for BTC which is already being seen in the market according to chart analyzer and trading signals provider Material Indicators who noted that if enough buyers clear the current buy wall at around 25k then there’s little friction until 26k with thin air all the way up until 30k is reached.
Current Market Status
As of now, despite being rejected from its attempt at breaking through the 25200 level three times in five days, Bitcoin still trades hands at 24 780 USD with 15 1% gain since 13th Feburary and 48 9% year-to-date gains so far showing that despite not quite reaching its goal yet this bull run continues nonetheless with potential for much higher prices ahead should it finally manage to flip this resistant level into support zone allowing further growth form here on out .
It appears that while we wait for more buyers or other market developments that will help push BTC over 25 200 USD many investors remain optimistic as history may repeat itself once again allowing them an opportunity for investments returns compared against their original input when they first got involved with cryptocurrencies like bitcoin .