Airdrop Army

The Bitcoin bulls are back in town, and they’re flexin’. On Oct. 12, BTC charted its course towards $63,500, throwin’ a 1.5% move on the day. The thing is, it’s lookin’ eerily like last weekend’s curious upside—one of those moves where you blink and it’s there, but the floor ain’t so sturdy.

Wall Street’s Game, Bitcoin’s Dance

The Oct. 11 Wall Street shuffle had Bitcoin playing catch-up with U.S. equities. After getting cozy around $60K support for most of the week, it finally decided to say “nah” to inflationary buzz and waltzed higher.

Traders, still scratchin’ their heads over the Fed’s next steps, adjusted their bets, but Bitcoin didn’t seem to care. It did its thing, proving once again it’s got its own playbook.

Skew, that notorious trader on X, dropped some intel on the charts. He pointed to Bitcoin’s inability to break down, noting, “Initial low was swept & clearly inability to breakdown so naturally there’s a reversion.” Spot demand’s heating up, RSI’s above 50—those are bullish markers, fam. His take? Monthly and weekly opens, at $62,850 and $63,330 respectively, are the must-hold lines for bulls to take a shot at $65K.

The Moving Average Conundrum

Then, there’s Material Indicators, always ready with their FireCharts. They showed support stacking right above $63K, signalling a challenge to the 200-day moving average is cookin’. “If bulls clear that MA, they’ll R/S flip Technical Resistance at the 2021 Mid-Cycle Top at $64.9K,” they mentioned. So, buckle up; this could get wild.

Next Stop? Maybe an ATH, Altcoins Might Come Along for the Ride

Now, Michaël van de Poppe—you know that dude’s always on it—thinks we’re in for a show. After BTC grabbed liquidity below $59.5K, he expects a few days of chillin’ before things heat up again next week. His eyes are glued to $64K/$65K. Crack that, and it’s game on for a new all-time high—and maybe even an altcoin run on the side.

Meanwhile, Bitcoindata21‘s been charting the market cap of major stablecoins against BTC, spotting a pattern. As that purple line heads south, they predict Bitcoin’s about to rip. The game’s simple—wait for the downtrend to flip, and that’s when the top is in. But until then, the bulls are drivin’.