Here's the outlook for bitcoin as the cryptocurrency struggles to reclaim the all-important $30,000 technical level

• The price of bitcoin is testing a pivotal level that could determine whether strength or weakness is ahead.
• The cryptocurrency needs to decisively clear $30,000 to test its $35,200 resistance level, according to Fairlead Strategies.
• If bitcoin can't reclaim $30,000, a downturn back to $25,200 appears likely.

Bitcoin's year-to-date rally of 76% has catapulted the cryptocurrency to a pivotal technical level that should give investors clues as to whether more upside or downside is ahead.