Historical data suggests that October is a good month for Bitcoin bulls, and Oct. 1’s push above $47,600 could be a signal of what’s to come for BTC and altcoins.
The month of September stayed true to its billing as a historically weak period for cryptocurrencies. 비트코인 (BTC) closed the month with a loss of about 7%. 하나, October may bring cheer to the bulls because Bitcoin has risen in six of the past eight years, falling only in 2014 과 2018.
The bulls started the month on a positive note as bears scurried to close their short positions. Data shows that more than $270 million worth of short positions were liquidated within minutes. Bitcoin’s enthusiasm was also shared by several altcoins which have surged higher today.
Bitcoin has closely followed PlanB’s Stock-to-Flow model projections in the past two months. If PlanB is lucky enough to be right for the third time, then Bitcoin could rally to $63,000, which is the model’s prediction for October.
Although the start to the month has been strong, will bulls be able to sustain the momentum and boost crypto prices further, or will higher levels attract selling by the bears?
Let’s study the charts of the top 10 알아낼 암호 화폐.
BTC / USDT
The repeated failure of the bears to sink Bitcoin below the 100-day simple moving average ($41,470) in the past few days could have attracted buying from aggressive bulls and short-covering from short-term traders.
The bullish momentum picked up on Oct. 1 after bulls pushed the price above the 20-day exponential moving average (EMA) ($44,485). Sustained buying has driven the price above the 50-day SMA ($46,604).
If the price sustains above the 50-day SMA, the bulls will try to push the BTC/USDT pair above the right shoulder at $48,843.20. This could open the doors for an up-move to the stiff resistance at $52,920.
If the pair turns down from the current level or the overhead resistance but does not dip below the 20-day EMA, it will suggest that the sentiment has turned positive and traders are buying on dips. The bears will have to pull the price back below the 20-day EMA to gain the upper hand.
ETH / USDT
The long wick on Ether’s (ETH) 씨족. 29 candlestick shows that bears sold at higher levels but a positive sign is that bulls did not allow the price to break below the 100-day SMA ($2,794). This shows that bulls continued to accumulate at lower levels.
Aggressive buying in the past two days has pushed the price to the 50-day SMA ($3,290). The zone between the 50-day SMA and the downtrend line is critical for the bears to defend because if bulls push the price above it, the ETH/USDT pair could rise to $3,676.28.
The 20-day EMA has flattened out and the relative strength index (RSI) has risen into the positive territory, suggesting that bulls are making a comeback. This view will be negated if the price turns down from the current level and plunges below the 100-day SMA.
ADA / USDT
카르 다노 (있습니다) bounced off the $2.02 level on Sept. 29, indicating that bulls are attempting to defend the zone between the psychological level at $2 과 $1.94. The recovery could face stiff resistance at the 20-day EMA ($2.26).
가격이 20 일 EMA에서 하락하는 경우, it will suggest that sentiment remains negative and traders are selling on rallies. The bears will then make one more attempt to sink the price below the 100-day SMA ($1.89).
반대로, if bulls drive and sustain the price above the 20-day EMA, it will indicate that demand exceeds supply. The ADA/USDT pair could then rise to the 50-day SMA ($2.45), which is again likely to act as a stiff resistance. A break and close above this resistance could result in the bullish momentum picking up.
BNB / USDT
The sharp rally in Binance Coin (BNB) in the past two days suggests short-covering by the bears and buying by the aggressive bulls. The buyers have cleared the hurdle at the 20-day EMA ($384) and may now challenge the overhead resistance at $433.
If the price turns down from $433 but rebounds off the 20-day EMA, it will suggest that the sentiment has turned positive and traders are buying on dips.
휴식과 마감 $433 could clear the path for a possible rally to $518.90. The 20-day EMA has started to turn up and the RSI has jumped into the positive territory, indicating that bulls are attempting a comeback.
거꾸로, if the price turns down from the current level and breaks below the 20-day EMA, BNB / USDT 쌍은 $340.
XRP / USDT
Ripple’s (XRP) tight range trading between the 20-day EMA ($0.99) and the 100-day SMA ($0.89) resolved to the upside on Oct. 1. The flattening 20-day EMA and the RSI near the midpoint suggest that bulls are back in the game.
하나, the long wick on today’s candlestick suggests that the bears have not yet given up and are trying to defend the 50-day SMA ($1.11). 가격이 현재 수준에서 하락하면, the bears will try to pull the price to the 100-day SMA.
반면에, if bulls thrust and sustain the price above the 50-day SMA, 수정이 끝났음을 시사합니다.. The XRP/USDT pair could then start its northward march toward the stiff resistance at $1.41.
SOL / USDT
Although bears successfully defended the 20-day EMA ($142) 지난 며칠 동안, they could not pull Solana (솔) below the support zone between the 50-day SMA ($122) 과 $116. This suggests that selling dried up at lower levels.
The bulls have pushed the price above the 20-day EMA on Oct. 1, indicating that the corrective phase may be over. The SOL/USDT pair could now rise to the 50% 피보나치 되돌림 수준 $166 and above it to the 61.8% 되돌림 수준 $177.80.
If the price turns down from either resistance but bounces off the 20-day EMA, it will suggest that the sentiment has turned positive and traders are viewing the dips as a buying opportunity. 곰은 아래 가격을 끌어야합니다 $116 우위를 점하기 위해.
점 / USDT
The bulls have pushed Polkadot (점) 20 일 EMA 초과 ($30.11) and the downtrend line on Oct. 1, which is the first indication that the selling pressure may be reducing.
The flattening 20-day EMA and the RSI just above the midpoint suggest that bulls have a slight edge. If buyers sustain the price above the downtrend line, the DOT/USDT pair could rise to $33.60.
A break and close above this resistance could attract aggressive buying and the pair may rally to $38.77. 이 가정과는 반대로, if the price turns down from the current level or the overhead resistance and breaks below the neckline, the pair could enter a downtrend.
관련된: Why NFTs can be a riskier investment than cryptocurrencies, 보고서
DOGE / USDT
도지 코인 (총독) tight range trading between $0.19 과 $0.21 resolved to the upside on Oct. 1, indicating that bulls have absorbed the selling. The bulls will next try to push the price above the 20-day EMA ($0.22), which could act as a stiff resistance.
If the price turns down from the 20-day EMA but does not slip below $0.21, it will suggest that traders are buying on dips. That will increase the likelihood of a break above the 20-day EMA. 그럴 경우, the DOGE/USDT pair could rise to the downtrend line.
이 가정과는 반대로, if the price turns down from the 20-day EMA and slips below $0.21 수요가 더 높은 수준에서 건조된다는 것을 암시합니다. The bearish momentum could pick up on a close below $0.19.
Terra protocol’s LUNA token broke below the 20-day EMA ($35.02) 9 월. 28 but the bears could not capitalize on this breakdown. The bulls purchased at lower levels and pushed the price back above the 20-day EMA on Sept. 30.
The LUNA/USDT pair is currently facing stiff resistance at the downtrend line but the long tail on the day’s candlestick suggests that bulls are accumulating on dips. This increases the possibility of a break above the downtrend line.
If the price closes above the downtrend line, 수정이 끝났음을 시사합니다.. The pair could then retest the all-time high at $45.01. This bullish view will be invalidated if the price turns down from the current level and plummets below the 50-day SMA ($32).
UNI / USDT
The bulls repeatedly failed to sustain Uniswap’s (UNI) price above the downtrend line of the descending channel in the past few days but the positive sign is that they did not give up much ground.
Strong buying on Oct. 1 has propelled the price above the channel and to the overhead resistance at the 50-day SMA ($25.72). This is an important level for the bears to defend because if this resistance cracks, the UNI/USDT pair could pick up momentum.
The pair could then rise to $27.62, followed by a rally to the critical resistance at $31.41. 거꾸로, if the price turns down from the 50-day SMA, the bears will make one more attempt to sink the pair below $22.
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시장 데이터는 HitBTC 교환.
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