Bitcoin (BTC<\/a>) held $20,000 into Oct. 5 with trader targets still including a fresh high before rejection.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD reaching $20,470 on Bitstamp overnight before returning lower.<\/p>\n The pair succeeded in maintaining the 2017 old all-time high as support<\/a>, something on-chain analytics resource Material Indicators had hoped would endure as a positive sign.<\/p>\n \u201cBTC is still in a congested range,\u201d it summarized<\/a> in comments the day prior:<\/p>\n \u201cThe retest of technical resistance at the 50-Day MA was rejected. Now I want to see a retest of support at the 2017 Top. Bulls may be losing momentum, but placed a buy wall at $20k to hold price up.\u201d<\/p><\/blockquote>\n Material Indicators was analyzing a chart of the Binance BTC\/USD order book showing investor behavior involving different-sized transactions.<\/p>\n It referred to its 50-day moving average (MA), which at $20,170 had still not flipped to decisive support on the day.<\/p>\n Popular trader Il Capo of Crypto, meanwhile, continued an extant thesis involving a trip to $21,000 before a steeper more enduring comedown.<\/p>\n \u201cLocal top is not in yet imo, but it\u2019s very very close,\u201d he told<\/a> Twitter followers:<\/p>\n \u201c20500-21000 hasn\u2019t been touched and there\u2019s no ltf distribution. Expecting the last leg up soon. Then ltf bearish signs, and reversal to new lows (14k-16k).\u201d<\/p><\/blockquote>\n Turning to the United States dollar index (DXY), a key macro trigger for crypto markets, there was some relief on the horizon. <\/p>\n Related:\u00a0BTC price still not at \u2018max pain\u2019 \u2014 5 things to know in Bitcoin this week<\/a><\/em><\/strong><\/p>\n A fresh 20-year high<\/a> was still due, according to Il Capo of Crypto, but this would be followed by a longer-term break<\/a> of the \u201cparabola\u201d in place on dollar strength since 2021.<\/p>\n \u201cWe could see a push deeper into the box giving BTC\/SPX more time to rally,\u201d fellow trader Mayne explained<\/a> in an accompanying thread, also mentioning the S&P 500.<\/p>\n \u201cIf this area fails, we could see a break in the dollar\u2019s parabolic ascent and perhaps a much longer sustained rally.\u201d<\/p>\n DXY circled 110.6 points at the time of writing, having narrowly preserved 110 as support \u2014 still marking its lowest levels since Sept. 21.<\/p>\n The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/f3ab1e34-340c-4b16-be5e-599e92ed4a2f.png\")
$21,000 upside target to precede new lows<\/h2>\n
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Signs of good times ending for U.S. dollar<\/h2>\n
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