Swissblock Insights

Swissblock Insights

Share this post

Swissblock Insights
Swissblock Insights
Uptober Has Arrived
Compass

Uptober Has Arrived

Crypto Compass 60

Swissblock Insights's avatar
Swissblock Insights
Oct 02, 2023
βˆ™ Paid
5

Share this post

Swissblock Insights
Swissblock Insights
Uptober Has Arrived
Share

β€œThe four most beautiful words in our common language: I told you so.” ― Gore Vidal

Join FREE telegram Group

  • BTC surged past the $28k level early Monday, ushering in a new week, month, and quarter with a solid bullish advance. We are in the thick of BTC season, risk has moved to the low-risk zone, and we are enjoying a modest bullish momentum as we welcome "Uptober" in style.

  • Price is at its highest level in over a month, and the increases can be attributed to ETF optimism and seasonality. Late October options volume by expiration indicates potentially exciting price action.

Figure 1: Speedometers for Altcoin Signal, Risk Signal, Momentum and Onchain analysis.
  • BTC price upholds support at $28k while trading at $28.3k. A break and hold above the immediate resistance at $28.4k are required to keep traders interested in keeping their long positions open while gazing upon a potential breakout above $30k. Momentum is fading away, so it will be key this week to defend the gains.

  • With the halving expected in April 2024 and a spot Bitcoin ETF approval on the horizon, selling pressure may be greatly reduced because investors are likely to overlook short-term profits in favor of waiting for bigger gains in the bull run.

Figure 2: BTC price evolution with Cipher B, RSI and ATR indicators.

Waiting list Swissblock BOT

Keep reading with a 7-day free trial

Subscribe to Swissblock Insights to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
Β© 2025 Swissblock Technologies AG
Privacy βˆ™ Terms βˆ™ Collection notice
Start writingGet the app
Substack is the home for great culture

Share