Today was a positive sign as bitcoin rose $3236, or 2.9%, to $114,3500. That move potentially helped establish a potential floor for the Uptober rally.
From a technical perspective, Bitcoin is holding above the rising 100-day exponential moving average, which has acted as dynamic support at times since April. The price has broken this trendline multiple times over the past few months, and each time buyers have stepped in to defend it.
Upside levels to watch:
- $116,500 – First resistance from late September intraday highs.
- $120,000 – Key swing high from July, a strong psychological barrier.
- $124,000 – Major resistance from August.
- $128,000 – Year-to-date peak.
- $140,000 – Round number resistance and measured move target if Bitcoin clears $128K. Also lines up with Fibonacci extensions of the April–August rally.
- $150,000 – Big psychological milestone.
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Trading involves risk and may not be suitable for all investors. The information provided in this article is for educational purposes only and does not constitute financial advice. Always conduct thorough research and seek professional advice before making any investment decisions.
