Why is there so much resistance for Bitcoin reaching $25,000 - page 6.

dansus021

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Quote from: hatshepsut93 on February 24, 2023, 07:54:18 PM

Because people are taking profits, if they bought at $16k or $17k, selling at $24-25k is a pretty good deal, making 50% profit in a few months is a very good performance. This isn't the big bull market that will break past the ATH, such market will come after the halvening, not before. So there's no big risk of missing out if you sell at a profit now, there's still plenty of opportunities to buy before the halvening. Although the safest strategy is to just wait now, but many traders like to perform these short-term trades.

Yep this dude has a good point event I already take a profit a little when buy at 17K. Maybe some people take profit on that area.

External Factors may be we need to see at least settle on the inflation rate, interest rate and etc.

Technical Site the price need to test the new support at 23K although is very good that we already broke the EMA 200 and followed by golden cross of EMA 100 and the price remain stable above that price

hatshepsut93

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Because people are taking profits, if they bought at $16k or $17k, selling at $24-25k is a pretty good deal, making 50% profit in a few months is a very good performance. This isn't the big bull market that will break past the ATH, such market will come after the halvening, not before. So there's no big risk of missing out if you sell at a profit now, there's still plenty of opportunities to buy before the halvening. Although the safest strategy is to just wait now, but many traders like to perform these short-term trades.

South Park

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Quote from: uneng on February 24, 2023, 04:48:35 PM

Too many investors setting their exist points between 24,000$ and 25,000$ don't let bitcoin surpass the mark. Demand for bitcoin is still weak, possibly due to fear and pessimism. On the other hand, it could be simply due to the fact whales don't want bitcoin to reach 25,000$ for now, so they constantly dump btc price through sell orders once the market gives signals of becoming bullish.

There is nothing special about the 25k level, it is just as you state, the demand for bitcoin to go past it is not there while there are too many sellers close to that level, and at least for now it does not seem as if we will go past that price as now bitcoin is even having problems keeping itself above 23k, however I would not worry about this as it is unlikely the bears have too much strength left either and the price could recover in just a few days.

capedbaldy

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Quote from: Falconer on February 24, 2023, 05:23:12 PM

Currently $25K has become the resistance which is expected to be broken and last longer. Of course it's not as easy as we hope, but anything is possible when traders and investors both want the same thing. I expect $24K to be sustained this February so passing $25K in March is very likely.

But for today's correction, I think holding is still the best option, but if you have enough funds that you previously saved from DCA then it's time to make a purchase.

However, it is difficult to maintain the $24k price until the end of this month, the impact of the downside is significant and now the price has touched below $23k and will probably be closer to $20k, but no one can predict exactly and it could be that things change and the price recovery will come back at a price of $25k.

I don't think it's time to buy bitcoin at this low price, maybe $20k will be the next DCA target, but whatever price you buy expect to weigh your decision and do some research.

Ryu_Ar1

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At the moment, the condition can't be said to be good, but I don't think it's bad either.
The current condition by touching $25k could be a start and there will be a continuation for the next increase because $28k-$30k is still possible in my opinion.
It's just that in this condition vigilance must still be exercised, because this could be like a ticking time bomb while in that area and they will decline again.
Keep calm and enjoy is actually the best way Grin

Falconer

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Quote from: Ojima-ojo on February 24, 2023, 04:50:09 PM

May history is repeating itself this time, and I am also hoping that the $25,000 price benchmark will be achieved in the next coming weeks but we can't as when to be precise and at what point since the attempt has been made on several accessions before it resists downward again.

Volatility and bear market resistance has forced Bitcoin to rely on below 25k for a while now but I know when it breaks the benchmark it will not return to that assist for a long time to come even before the next halving.

Currently $25K has become the resistance which is expected to be broken and last longer. Of course it's not as easy as we hope, but anything is possible when traders and investors both want the same thing. I expect $24K to be sustained this February so passing $25K in March is very likely.

But for today's correction, I think holding is still the best option, but if you have enough funds that you previously saved from DCA then it's time to make a purchase.

Ojima-ojo

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Quote from: cabron on February 24, 2023, 04:41:32 PM

$25k is also the resistance back in Aug 2022.
I think it will break that $25k in a few weeks. The rally hasn't reached its peak yet It's possible to go $30k but then you got to prepare also when it falls. Good time to keep trading on the spot market just to accumulate a few satoshis. Once the market passes that resistance, it could become a support line also.

May history is repeating itself this time, and I am also hoping that the $25,000 price benchmark will be achieved in the next coming weeks but we can't as when to be precise and at what point since the attempt has been made on several accessions before it resists downward again.

Volatility and bear market resistance has forced Bitcoin to rely on below 25k for a while now but I know when it breaks the benchmark it will not return to that assist for a long time to come even before the next halving.

uneng

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Too many investors setting their exist points between 24,000$ and 25,000$ don't let bitcoin surpass the mark. Demand for bitcoin is still weak, possibly due to fear and pessimism. On the other hand, it could be simply due to the fact whales don't want bitcoin to reach 25,000$ for now, so they constantly dump btc price through sell orders once the market gives signals of becoming bullish.

cabron

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$25k is also the resistance back in Aug 2022.
I think it will break that $25k in a few weeks. The rally hasn't reached its peak yet It's possible to go $30k but then you got to prepare also when it falls. Good time to keep trading on the spot market just to accumulate a few satoshis. Once the market passes that resistance, it could become support line also.

Falconer

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After down to the lowest level in 2022, I think a good increase has occurred in early 2023 to this February. I don't expect the price to always go up without a correction, and it's very difficult. After all, fluctuations like this are always normal in the market although many people wish the $25K was held for a longer period. But in my opinion, dip only gives good hope for traders when they want to enter for long-term goals.

ginsan

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two big bumps to the $25k level and it hasn't been strong enough to hold on to the $25k level as I suspect some are targeting profit at that point so the hard spike happened in seller options at $25k. We are entering a weekend where normal things can happen during the sales phase which is more dominant if we observe.

maybe the closing price this february will be around the $24k level because some of the big orders I see are at $21k or $22k so that could trigger a strong push for traders to see higher prices when the pump comes. this was a pretty good entry rally after two rejections in the $25k area.

Ojima-ojo

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The last quarter of the month of February 2023 has been filled with so many market behaviours and uncertainties, bitcoin made every attempt to hold on to the 25,000 prices but each time it reaches that milestone it gets to pull back.

This has happened several within the last one two weeks and this action has called for more speculation from spectators on what direction the price will go, just as there have been financial instability in the global economy will Bitcoin follow the same pattern as the traditional economy or will it break out in the face of uncertainties to move beyond the 25k BTC price.

Topic: Why is there so much resistance for Bitcoin reaching $25,000 - page 6. (Read 680 times)