Uptober Has Begun

Bitcoin Showing Signs of Life with Key Indicators

I relish being "new money." The rules of the old financial order no longer constrain me. Holding this digitally scarce asset makes me feel limitless in potential. When you hold the keys, you make the rules. Bitcoin empowers me to peacefully opt-out of games rigged against my interests. The opportunity to build "new money" that answers to the network, not institutions, will drive our future. Nothing will ever be the same.
Technical Analysis

21 Weekly EMA Breakout

After recently falling below the 21 Weekly EMA for the first time this year, Bitcoin closed one weekly candle above the 21 EMA. This serves as an early indicator of a trend reversal which will become further confirmed after one more weekly close above this level.

Daily View

Trend Line Breakout & Retest

Bitcoin broke above the downward trend line, retested it once and started a reversal move. If this move continues, the next level to test will be at the $30k level.

Bitcoin Breaks Resistance Zone

Bitcoin broke the resistance zone between $27k and $27.4k while testing the 0.5 Fib retracement. So far Bitcoin has fallen short of breaking the 0.5 Fib, and needs a convincing move about $28.5k to exceed this technical target.

200 Daily Simple Moving Average

Bitcoin is testing the critical 200 daily SMA which we discussed a few weeks ago when the Death Cross was formed. A confirmed close above this level would be a strong trigger for an upside continuation.

Market Statistics

Bitcoin Market Cap


+ 4.84%

Bitcoin Dominance



Disclaimer: The information provided in this newsletter is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any financial instruments.

Join the conversation

or to participate.