It didn't take a long time for Bitcoin to get rejected from the $28,000 but is it a rejection or just a pullback? Lets have a look at the chart!
In my previous posts I have mentioned a possible pullback at $28,000 area that resonates with my resistance line. Bitcoin went above it though. I would have to be a wizard to be able perfectly predict rejection points..
Now as we have the rejection or I would say a pullback from the resistance, we can expect a bounce from around $27,000 (that is where the purple line is) this is now a support level.
Also, the the pump had happen earlier. My drawing says the $28k peak should have happen on October 11 and the next pump on the 28th
So if the distance at least is correct than the breakout above to $29,000 should happen around 11-16th of October. I think the next pullback will be around $30,000.
Could Bitcoin repeat the pump during the upcoming weekend? That is very possible but this could also be a trap day where Bitcoin becomes very volatile tricking people into longs and shorts Basically - liquidations day...
All The Best,
Aventurine
