Bitcoin Gains 15%, Attempts to Flip $25.2k Resistance

Bitcoin (BTC) has attempted to break $25.2k resistance three times but needs more buyers’ momentum for an upswing to $30k.

A biker riding a bike on a mountain with Bitcoin in the background
  • Bitcoin (BTC) has surged close to $25,000 in its third attempt to break above the $25.2k resistance since February 16th.
  • BTC has gained 15.1% since February 13th to move its year-to-date gains to 48.9%.
  • Flipping the $25.2k resistance to support will see the price of Bitcoin rally to $30k before its next resistance.

The price of Bitcoin (BTC) has surged near the $25k level for the third time in the last five days in a continued attempt to flip the $25,200 resistance to support before proceeding on an uptrend.

Bitcoin Attacks the $25k Resistance 

Since surging past $25k on Thursday, February 16th, the price of Bitcoin (BTC) has made three attempts to break above the critical $25,200 level before it can continue on a significant uptrend.

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In the early hours of Tuesday, February 16th, the price of Bitcoin shot up by 2.3%, hitting $25,126.85. However, like its attempt on February 19th and 16th, the price of Bitcoin has been rejected by the $25.2k level.

The 24-hour price chart for Bitcoin (BTC)

The 24-hour price chart for Bitcoin (BTC). Source: CoinMarketCap

Following the rejection, BTC now exchanges hands at $24,780. However, Bitcoin is still massively in the green zone, gaining 15.1% since February 13th to push its year-to-date gains to 48.9%.

The seven days price chart for Bitcoin (BTC)

The seven days price chart for Bitcoin (BTC). Source: CoinMarketCap

Why is the $25.2k Level Significant?

Bitcoin traded under $18,000 40 days ago, and its rally to $25k mirrors the start of the last major Bitcoin rally. The 2017 rally saw the price of Bitcoin explode from $900 and make a run close to $20,000.

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Investors and traders alike are ecstatic about the price of bitcoin rallying above the $25.2k level because if this resistance is successfully flipped to a support zone, Bitcoin could rally to $30k.

What Bitcoin Needs to Do To Break Above $25.2k

Rallying to $30k after breaking the critical level is possible because, above the $25,200 level, there is no significant resistance for Bitcoin until $30k. 

For Bitcoin to break above this level, there needs to be a strong bullish momentum to drive the demand for BTC, which is already being seen in the market. Chart analyzer and trading signals provider, Material Indicators explained:

If this momentum proves insufficient to support the drive above this region, BTC could remain consolidated around the $23.5k and $24.8k region as it has in the last five days. Consolidation could help buyers gather more momentum to rally above the critical $25.2k level. 

On the Flipside

  • However, if this fails, Bitcoin could retest its support at the $22,500 level before building new momentum for a swing.

Why You Should Care

The $25.2k is a critical level for Bitcoin, and gaining momentum to break above this level could end doubts about the start of a new bull cycle.

Read more on the Bitcoin rally below
Bitcoin Eyes 25K Summit, Ethereum Climbs the Peak Too

Find out some reasons for the rally below
Bitcoin NFTs: What Makes BTC JPEGs so Extra-Ordinal?

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia