Why is there so much resistance for Bitcoin reaching $25,000

dragonvslinux

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Quote from: STT on April 20, 2023, 11:03:11 AM

The topic is old enough now that the resistance is support and its relevant that BTC might find 25k again as a place to trade downwards from 30k having lost momentum upwards.

Although $25K is no longer resistance, I would far from call it support. Since breaking above it this level remains un-tested as support. When price breaks through a resistance level it doesn't automatically make it support, it makes it theoretical support, until price actual confirms it as such, for example at $20K. There is a good chance $25K would act as support, but for now that remains a theory rather than fact.

Quote from: StreakW on April 29, 2023, 11:35:26 AM

There is no significant resistance for bitcoin to go above $25k. Currently the bitcoin price is trading in the $28k-$29k range.

In case it's wasn't obvious, this thread was created when price was at $24K, after being rejected from $25K. So at the time, there was significant resistance from $25K.

I'm sure you could also look at threads from years ago talking about resistance at $10K, $6K, $3K and so forth, but it wouldn't be that relevant anymore either.

retreat

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Quote from: cryptomaniac_xxx on March 25, 2023, 04:46:42 PM

-snip-

We need another catalyst or good news to be able to big that barrier, maybe next month, there will be positive news. So let's just continue to be optimistic that the green candle will still continue next month.

It will be quite difficult for Bitcoin to break through $30K USD because we know that there is no strong news which can affect the price of Bitcoin. In fact, most of the recent news is quite negative, such as the uncertain condition of the American economy, conditions of geo-political tensions, and other news that actually drags Bitcoin down and keeps it from breaking through $30K USD. I think this Bitcoin condition will continue until the end of this year or less.

StreakW

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There is no significant resistance for bitcoin to go above $25k. Currently the bitcoin price is trading in the $28k-$29k range. Even if you look at the performance of the crypto market recently, the bitcoin price has the potential to reach above $30k.

STT

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The topic is old enough now that the resistance is support and its relevant that BTC might find 25k again as a place to trade downwards from 30k having lost momentum upwards. Dollar index bottomed out which has lead to some taking profits in this area across a range of asset types.

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Quote from: cryptomaniac_xxx on March 25, 2023, 04:46:42 PM

So I guess the next logical question is how big the resistance for Bitcoin in reaching $30k?

The closest that we can get right now is $28k and then there is a minor pullback and now we are in the $27k'ish price range. And with that, we have the answer, it's hard and the wall barrier is too high right now to just jump and hop over to $30k.

We need another catalyst or good news to be able to big that barrier, maybe next month, there will be positive news. So let's just continue to be optimistic that the green candle will still continue next month.

Actually there is no difficulty to reach the current $30k price but it's just that the market moment doesn't support achieving a high recovery, it's the same as the market finding it difficult to penetrate the $25k area but after the market moment has support the market will easily pass that price, so we only need waiting for the next moment after the market correction ends.

cryptomaniac_xxx

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Quote from: Paul Pogba on March 24, 2023, 10:24:41 AM

Now that we've left the price that many consider to be a sacred price, the price has moved away from $ 25k and soon we will enter the $ 30k level, there is nothing better than to continue to hold and think that this year the market will continue to skyrocket and be able to sell at a higher price.

So I guess the next logical question is how big the resistance for Bitcoin in reaching $30k?

The closest that we can get right now is $28k and then there is a minor pullback and now we are in the $27k'ish price range. And with that, we have the answer, it's hard and the wall barrier is too high right now to just jump and hop over to $30k.

We need another catalyst or good news to be able to big that barrier, maybe next month, there will be positive news. So let's just continue to be optimistic that the green candle will still continue next month.

Paul Pogba

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Now that we've left the price that many consider to be a sacred price, the price has moved away from $ 25k and soon we will enter the $ 30k level, there is nothing better than to continue to hold and think that this year the market will continue to skyrocket and be able to sell at a higher price.

Kadal Ijo

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Now the price has reached $ 27k even yesterday the price reached more than $ 28500, this proves that bitcoin is still strong, if previously the price seemed difficult to reach $ 25k, this has happened several times and then fell again below $ 20k, and this March it can it says the price jumped over $25k because after reaching $25k it continues to rise until now, hopefully this is a sign of a bull run market.

kotajikikox

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well , i think the worry must end now mate as we are now expecting and speculating about Bitcoin crossing 30kish and not that 25k anymore as we already broken that area.

https://coinmarketcap.com/currencies/bitcoin/

waiting for the next pump and that would be at least 40k before the year ends .

rodskee

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Quote from: Pejoh Asu on March 13, 2023, 02:14:06 AM

If we pay attention to the price several times approaching $ 25k but not for long it will decrease, in my opinion $ 25k is like an emotional price, naturally many people believe that if they can touch $ 25k it will continue to rise, but looking at market developments so far I am optimistic that $25k will be up as soon as April.

you can say that recently but now that price of bitcoin had a big jump again from 19k to 28k or almost 29k ? so maybe we can see how much potential that price of 30k to be broken again and may bring more than that in the coming days?

Quote from: Republikcoin.com on March 09, 2023, 06:36:47 PM

Quote from: DOH! on March 05, 2023, 09:39:35 AM

I think the 25k resistance is the pressure of profit taking from the bears, although it does not affect the long-term confidence in bitcoin too much, the advantage of bitcoin growth in January is too attractive and increases the pressure. take profit at the 25k resistance level is what i was thinking.

Taking profit at that resistance level is not mandatory for everyone although it is also very good to have time to do it because right now everyone is looking at the $20K price back in Bitcoin so there is not much to lose when someone takes profit at the $25K resistance level and then buys back at the current price level as the Bitcoin price as of today has fallen back and in fact the price difference is almost $5K compared to last month's high.

we have to decide for our own money.

try not to risk if you cannot take that losing but for me? i love reaching that situation because another momentum will come.

Pujangga

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After almost a year of being under $25k and previously being close to $25k but failing, this week the price was already $27k, and when I noticed the $25k was happening in less than 3 hours as the price jumped to $26k, this made us even more optimistic that bitcoin is a very good and promising investment.

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Quote from: tygeade on March 17, 2023, 10:35:03 AM

Obviously, they can still technically do it, it is not impossible, a few dire and terrible news and we could drop again but that doesn't mean that they will achieve it, we are probably above 25k from now on, at least for a while.

I don't think that os possible, because we are way ahead of the $25,000 price and bitcoin prices have stabilized in the $26,000 price region even though the mainstream bad news speculators are busy with fiat traditional financial system, Bitcoin is busy building more market volume that will stabilize the price on long term bases.
Going by the current market trend Bitcoin is on the verge of breaking the $30,000 price benchmark is the current bull persistent push above the $27,000 price kn the next 24 hours.

tygeade

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Quote from: dragonvslinux on March 17, 2023, 06:31:39 AM

Personally I don't think it needs high volume to get to $30K, it just seems more likely that a break-out to there would be based on high volume. Likewise with getting above $25K today, the volume isn't particularly high it's about average. The difference is there was high volume twice before around $25K that satisfied sellers, and now there are a lot less of them, so not as much volume is needed.

When it comes to staying above $25K then I imagine higher volume will be needed if price returns there, as otherwise bears will try push price below again.

I would guess that having that type of bears pushing is not a new thing, they will want to keep us below 25k but being below 25k and keeping us there versus being above 25k and trying to get us back under again are very two different things. One of them is easy because all you have to do is sell some coins and publish some bad news, whereas the other is literally killing all the hype and fixing all the problems in the fiat world that caused this increase.

Obviously they can still technically do it, it is not impossible, a few dire and terrible news and we could drop again but that doesn't mean that they will achieve it, we are probably above 25k from now on, at least for a while.

OpenCEX

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We’ve finally waited for this resistance to break through. BTC has been reaching these highs for the last 3 days: $26,515; $25,241; $25,190 (yesterday).

tiCeR

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Quote from: dragonvslinux on March 17, 2023, 06:31:39 AM

Quote from: 2double0 on March 15, 2023, 05:47:10 PM

Quote from: dragonvslinux on March 14, 2023, 08:07:03 AM

With price breaching $25K in the past hour, starting to think this topic should be locked by end of day if price closes above this price.

It was a good topic while it lasted, many different opinions, but otherwise won't serve much purpose with price above $25K...

Btc has got enough resistance at/near $25K so I don't think it will be easy for btc to hold that area for longer. It needs sharp volume to break it and climb over $28500 to go near $30k. It does not have any good resistance area between $25800 and $29000 but it should break $25k again as it has created an inverse triangle flag and it looks like the big move is near and it will be on any side of the coin.

Personally I don't think it needs high volume to get to $30K, it just seems more likely that a break-out to there would be based on high volume. Likewise with getting above $25K today, the volume isn't particularly high it's about average. The difference is there was high volume twice before around $25K that satisfied sellers, and now there are a lot less of them, so not as much volume is needed.

When it comes to staying above $25K then I imagine higher volume will be needed if price returns there, as otherwise bears will try push price below again.

Quote from: Fatunad on March 15, 2023, 05:57:48 PM

It had been many times been tried out to be break out but still failed up because of too much selling pressure or simply those selling points is really that strong on that area.

At least for now it seems like the selling pressure has passed. This is why I don't believe in triple tops as each time price returns to resistance it weakens it. I imagine many were expecting price to get rejected again today, but yesterday closed above $25K for the first time since June, so while the week still hasn't closed above this level for further confirmation, it does seem like the resistance is finally breaking.

There have been a lot of bears for quite some time trying to profit from short positions, but the market has once more shown how brutally it can fight back. A lot of short speculators have been squeezed out just a short while ago and if you now look at the charts you must have quite some balls to open more short positions or, put differently, short positions of significant sizes. Anyone could open a small short position as a gamble, but what happened a couple of days ago was a real squeeze. Even if I had the money for a large short bet, I wouldn't sleep well these days as it doesn't look like there could be any reason on the horizon for Bitcoin to crash again.

Husires

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Quote from: dragonvslinux on March 17, 2023, 06:31:39 AM

Personally I don't think it needs high volume to get to $30K, it just seems more likely that a break-out to there would be based on high volume. Likewise with getting above $25K today, the volume isn't particularly high it's about average. The difference is there was high volume twice before around $25K that satisfied sellers, and now there are a lot less of them, so not as much volume is needed.

I began to see a correlation between cash flows and the rise in price. During the curved year 2020, it was bullish due to monetary stimulus, Bitcoin and many companies whose shares were very high.
Today, the same scene is repeated, and we see an influx of liquidity from the Federal Reserve, which is a green signal that may mean that we will return to the 30,000 after March 22nd.

dragonvslinux

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Quote from: 2double0 on March 15, 2023, 05:47:10 PM

Quote from: dragonvslinux on March 14, 2023, 08:07:03 AM

With price breaching $25K in the past hour, starting to think this topic should be locked by end of day if price closes above this price.

It was a good topic while it lasted, many different opinions, but otherwise won't serve much purpose with price above $25K...

Btc has got enough resistance at/near $25K so I don't think it will be easy for btc to hold that area for longer. It needs sharp volume to break it and climb over $28500 to go near $30k. It does not have any good resistance area between $25800 and $29000 but it should break $25k again as it has created an inverse triangle flag and it looks like the big move is near and it will be on any side of the coin.

Personally I don't think it needs high volume to get to $30K, it just seems more likely that a break-out to there would be based on high volume. Likewise with getting above $25K today, the volume isn't particularly high it's about average. The difference is there was high volume twice before around $25K that satisfied sellers, and now there are a lot less of them, so not as much volume is needed.

When it comes to staying above $25K then I imagine higher volume will be needed if price returns there, as otherwise bears will try push price below again.

Quote from: Fatunad on March 15, 2023, 05:57:48 PM

It had been many times been tried out to be break out but still failed up because of too much selling pressure or simply those selling points is really that strong on that area.

At least for now it seems like the selling pressure has passed. This is why I don't believe in triple tops as each time price returns to resistance it weakens it. I imagine many were expecting price to get rejected again today, but yesterday closed above $25K for the first time since June, so while the week still hasn't closed above this level for further confirmation, it does seem like the resistance is finally breaking.

STT

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Its still glued to this area but if the daily bar closes high on its range rather then the lower price seen today it could mean we continue to resolve upwards at a similar pace. Definite struggle in this area all the same though.

The clue might be price is trading just below 200 week average, we have traded above but resolved below so far. Moving averages arent resistance, they are a representative of momentum but the fact its such a widely followed measure might be enough momentarily to hold back further buying that would lead us higher

Wiwo

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Quote from: erep on March 16, 2023, 04:33:13 PM

Quote from: Falconer on March 16, 2023, 03:09:26 PM

Quote from: Wiwo on March 16, 2023, 02:57:06 PM

-Even though Bitcoin made many attempts to break the ops benchmark, market forces have relentlessly kicked against that price and the candle stick can bear the heat at a 25k+ price so it has to burn down repeatedly.

Keep calm and hang on, it's just a fun dynamic to enjoy. The price of bitcoin forms the same pattern in several cycles of ups and downs, a kind of rapid rise and fall. It's kind of weird because at the end of the day over and over again $25k is hard to be supportive. The current resistance has increased, it's not $25k anymore, but I think it's at $26k.

The support area will be hard to hold in the price range close to the highs that have been reached, so the $24k-25k support price is good enough for now compared to the $19k price earlier this month, so stay calm and let's see the market at the end this month and remain optimistic the market will close 30k through the end of march.

I am sure the price will be hovering around the 25k-30k price in the coming month as this month and the previous months from January have opened up another price volatility in an uptrend direction which has indicated a more positive future expectation for Bitcoin.

-just as erep has rightly said, the present price benchmark of Bitcoin is already good enough but we can still have room and chances to climb higher a bit, building a strong market value base is what we really need now in Bitcoin price to protect the price from deepening down to below 20k again just like what we saw last few days.

erep

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Quote from: Falconer on March 16, 2023, 03:09:26 PM

Quote from: Wiwo on March 16, 2023, 02:57:06 PM

-Even though Bitcoin made many attempts to break the ops benchmark, market forces have relentlessly kicked against that price and the candle stick can bear the heat at a 25k+ price so it has to burn down repeatedly.

Keep calm and hang on, it's just a fun dynamic to enjoy. The price of bitcoin forms the same pattern in several cycles of ups and downs, a kind of rapid rise and fall. It's kind of weird because at the end of the day over and over again $25k is hard to be a support. The current resistance has increased, it's not $25k anymore, but I think it's at $26k.

The support area will be hard to hold in the price range close to the highs that have been reached, so the $24k-25k support price is good enough for now compared to the $19k price earlier this month, so stay calm and let's see the market at the end this month and remain optimistic the market will close 30k through the end of march.

Topic: Why is there so much resistance for Bitcoin reaching $25,000 (Read 748 times)