Bitcoin (BTC) saw a swift comedown after a failed attempt to reach $28,000 on October 5th. Data from Cointelegraph Markets Pro and TradingView showed that the market dropped up to $700, or 2.5%, after the rejection. Material Indicators, an on-chain monitoring resource, warned of a fresh downturn and suggested that another attempt could be made. Co-founder Keith Alan noted that the current spot price zone was the site of “key” support/resistance flips in prior bull markets. He added that a close above the 200-Week MA would fuel bullish hopium, while a close below the 21-Week MA would keep BTC ranging between $25k – $28k until something breaks. Michaël van de Poppe, founder and CEO of trading firm MN Trading, described Bitcoin as “very much ready” to tackle $30,000 resistance. He added that holding above $27,200 would be substantial for upwards continuation, but preferably is a retest at $26,700-26,900 before continuing the rally to $30,000. Popular trader and X commentator Ali revealed a BTC price trading method which he argued had tracked recent local tops and bottoms. This revolved around the relative strength index (RSI), which on four-hour timeframes had fluctuated between approximately 30 and 75 since late August. Ali suggested that the RSI should drop below 30.35 to buy the dip.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	Ali, Keith Alan, Michaël van de Poppe
Companies	MN Trading, Material Indicators, TradingView, X, Cointelegraph Markets Pro
Currencies	Ethereum, Bitcoin
Securities	None