Officially not liking the rejection from $25K anymore now $23K is breaking, this was my level for bullish continuation but instead is starting to look similar to that of August rejection.
Bulls think price won't re-visit $20K, bears still think we're going to $10K, probably both will get this wrong if Bitcoin get's it's way.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fs3.tradingview.com%2Fsnapshots%2Fe%2Fe3TGZpWW.png&t=663&c=6Jqbg-Lugq4ibw)
If price can turn the 50 Day MA into support around $22.2K and create a higher low then I'd happily change my mind, but otherwise it's rising very fast and looks like it could cut through with ease given the volume gap. Ideally we would have been re-testing it around $23K where there was/is volume support, but price has dropped too quickly. Daily RSI remains neutral so room for more downside, even if not quite bearish yet.
At best this is a fake out style shake out at volume support. Currently breaking the 200 MA on 4hr, which similar to earlier in the month might not be that bearish (or relevant):
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fs3.tradingview.com%2Fsnapshots%2F0%2F0VQdbTRM.png&t=663&c=3VUkXVvM_n3ufw)
Otherwise not too concerned about the pull-back as long as the 200 Day MA turns into new support around $20K. Accumulation volume at $19K still looks healthy to me, below that I'm bearish though.