Bitcoin price struggles with resistance at $25,000 as analysts warn of a near-term pullback

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Taking a step back, Bitcoin’s recovery since the lows of June “has led to a buy signal from the weekly stochastic oscillator,” according to Florian Grummes, managing director at Midas Touch consulting. As for what level to keep an eye on in the event of a bearish downturn, Grummes indicated that “the picture would degrade significantly” if the price of BTC fell below $22,000.The struggle by Bitcoin bulls to mount a serious charge above $25,000 was also highlighted in an update from Katie Stockton, founder and managing partner of Fairlead strategies, who has adopted a neutral bias after BTC has “seen short-term momentum neutralize below cloud-based resistance near $25,000.

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