FX.co ★ Bitcoin rejected once again at $25,000.

Yellow rectangle- resistance

Bitcoin is trading around its 7month high of $25,245. Price has mostly been moving sideways the last 7-8 months with no clear direction. Bitcoin has so far tested the $25,000-$25,300 level three times and all three times price got rejected. Recent price action confirms the importance of the resistance at $25,300 area. Support is at recent low of $23,868. Bulls need to defend this level. A break below this level will open the way for a move towards $21,700 February lows.