Bitcoin Rejects $28K After Brief Rally, But Analysts Still See Potential for Further Gains

Bitcoin rejected at $28,000 after attempting to match 6-week highs, dropping $700 in an hour.

On-chain monitoring resource Material Indicators predicted the rejection, noting key support/resistance at current levels from prior bull markets.

The 200-week and 21-week moving averages are near current price action at $27,970 and $27,868.

Trader Michaël van de Poppe says Bitcoin is ready to tackle $30,000 resistance.

Popular trader Ali reveals RSI oscillator method that tracked recent tops and bottoms, implying a potential new "buy" signal forming.