Bitcoin Price Consolidates After Failing To Break Through Key Resistance Level |


Bitcoin price is consolidating after finding strong resistance at the $25,000 level. This year, the primary cryptocurrency’s price resurgence has been the major talking point, moving from $16k to $24k in a few weeks. 

This trend continued as Bitcoin surpassed the $25k mark for the first time since August 2022 this week, and some experts had predicted that the $30k could be the next resistance point. However, this was not the case, and Bitcoin was quickly rejected at $25k. 

How To Get Free Crypto  
Don’t wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Bitcoin Price Experiences Slight Correction At $25,000 

At the time of writing, Bitcoin is trading at $24,478 and has been unable to break the $25,000 level decisively. Given the strong rejection at $25k, analysts believe Bitcoin may enter a period of consolidation before making a fresh move. 

Related Reading: Dollar (DXY) Reaches Inflection Point, Critical Level For Crypto Continuation

The technical indicators also support a sideways movement in the near term as the two arms of the Relative Strength Index (RSI) remain above the midpoint of 50. It should be noted that the most recent price action coincides with a surge in bitcoin’s network activity which is near its all-time high. 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Play Now!

This corresponds well with some bullish market sentiment and shows that a good portion of the recent rally is based on strong fundamentals. However, given the current market conditions, a new narrative may be needed to propel Bitcoin to a new all-time high. 

Bitcoin is trading sideways on the 24-hour chart. Source: BTC/USDT on

Bitcoin will likely remain in a consolidation phase until more investors take a fresh look at the asset’s potential. This suggests a balance in the buying and selling pressures and signals an indecisive market. As such, Bitcoin will likely remain in a tight range, only breaking out when a strong catalyst arrives. 

Coinbase Banner  

Moving forward, if bitcoin breaks the $25,000 level, it could trigger further upside momentum. On the other hand, if it fails to break through, it could mean that the rally has ended, and bitcoin will be at risk of a correction. Therefore, it is important that traders monitor the $25,000 resistance for any potential breakouts or breakdowns.

Bitcoin Network To Experience Growth With Ordinal NFTs  

The Bitcoin network has continued to experience growth with the rise in the trend of NFTs minted on its blockchain. Ordinal NFTs began to be marketed through social networks at the beginning of the year. 

So far this year, more than 130,000 NFTs, mostly images and text files, have been minted on the Bitcoin network, according to data from Dune. Although it is unknown how many total sales were made of these NFTs, some documents estimate that collections like Ordinal Punks have already grossed millions of dollars. This, supposedly, is through sales organized in private groups.

Related Reading: $212 Million Flushed In Crypto Futures As Bitcoin Surges Above $24,000

All this has brought disagreement among some bitcoiners who disapprove of the fact that this type of asset is being uploaded to the network and believe it could have detrimental effects in the future. 

FreeBitcoin Banner  

-Featured Image from, chart from 

Go to Source
Author: Olowoporoku Adeniyi

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.