Bitcoin approaches $ 25,000 mark

Bitcoin’s price has formed a strong support base above $ 22,000. BTC began a strong rise and was able to overcome many obstacles near the $ 23,000 resistance zone. A new weekly high has been formed at around $ 24,899, and the price is currently consolidating its growth.

On the other hand, the nearest resistance is around $ 24,800. According to cryptocurrency analysts, the next price for bitcoin is $ 25,000. A clear move above the $ 25,000 resistance level could lead to new steady growth. In this case, the price may rise to $ 25,500. The next resistance is $ 26,200, where bears are likely to take a strong position.

The next major support is near the $ 24,000 area. If there is a breakdown, the price could test the correction level of the recent rally from the low of $ 21,505 to the high of $ 24,899. That is, the rate could fall by more than 10%.