Bitcoin Broke Out To $28,000!

By Aventurine | Crypto Aventurine | 16 Oct 2023

Bitcoin Broke Out on Sunday and today it reached $28,000 resistance level!

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That is literally 4% pump! and it was a great trading opportunity! Now we can see that Bitcoin is retracing from the $28,000 price level I suspect it will retrace back to around $27,300 level

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Lets have a look at potential pattern formations and what can we expect next! On the 4h and daily chart we could say there is a symmetrical triangle forming and we can expect the breakout around 24th of October, or if we assume the timeline of the green line I drew is correct the peak of the breakout to be on the 24th of October.

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That would also mean the increase of another 5% in the price! and that would be at the levels of the current breakout (percentage wise)

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The green arrows represent days on which the peak was reached. The first two had happen on Tuesday and the last two on Monday so can we expect the next peak happen on Tuesday? 24th of October drops on Tuesday so it is quite possible!

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