Bitcoin due new local low? Watch these BTC price levels as $28K rejects
Bitcoin bulls struggle to top their highs from the start of the week, while BTC price forecasts diverge over what could be next. Bitcoin (BTC) rejected at $28,000 after the Oct. 5 Wall Street open as a return toward six-week highs failed. BTC/USD 1-hour chart. Source: TradingView Bitcoin sees swift comedown after new $28,000 retest Data from Cointelegraph Markets Pro and TradingView followed BTC price action as bulls attempted to match levels from earlier in the week. This encountered problems just above the $28,000 mark, however, with the subsequent hourly candle sending the market down up to $700, or 2.5%. Commenting on the status quo, on-chain monitoring resource Material Indicators was unsurprised. Its proprietary trading tools had warned of a fresh downturn, it said, and the chain of events could still repeat. “If you didn't see this rejection coming, then you might want to evaluate your tools, because both TA and Trend Precognition indicated a high probability of a rejection...