Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it added over 7% after the Sept. 26 close.

Local highs of $20,344 appeared on Bitstamp before the pair began consolidating at around $20,200.

The move naturally did not go unnoticed by in trading circles, but opinions differed over the outcome, amid warnings that the whole episode may end up trapping overoptimistic traders taking late long positions.

“No [rejection] yet, but soon. Expecting higher for now,” popular Twitter account Il Capo of Crypto summarized, sticking by a theory that demanded new lower lows than the sub-$19,000 levels seen over the past week.

Research firm Santiment, meanwhile, noted mass profit-taking beginning as Bitcoin recrossed the $20,000 boundary for the first time in over a week.

“Many traders were apparently awaiting the $20k threshold to begin selling their bags,” it revealed alongside a chart of transactions made at a profit or loss to their owner.

“As Bitcoin crossed back above this psychological level, mass profit taking ensued. Now we find out whether those anxious to sell will regret their decisions.”