Uptober Kicks Off: BTC Holds Above $113k, Eyes $120k Test || Daily News
Altcoins show mixed signals as Solana holds $200 and ETH struggles for traction
🪙 Crypto Market
Bitcoin rebounded toward the weekly highs near $114k after briefly dipping below $113k. The new monthly pivot for October sits at $113,710, making this a key zone to watch for short-term momentum.
The quarterly close locked in a strong bullish structure, and chart projections suggest BTC could test $132k this month. However, despite the resilience, bulls still need to clear the $114,600 daily close level to confirm a sustainable breakout.
Above $114.6k: sets up a potential push to $120k.
Failure to hold: raises the risk of a pullback toward $113k or even $110k in an extreme scenario.
📊 Macro Correlation
BTC’s price continues to move in lockstep with the Nasdaq, highlighting its sensitivity to the U.S. business cycle.
Today’s ISM data release will be crucial—strong numbers could fuel risk-on flows, while weakness may cap upside momentum. Futures suggest a soft open for tech stocks, which could weigh on BTC in early trading.
🌐 Altcoin Watch
Solana (SOL):
Held the $200 support and triggered a fresh buy signal.Monthly pivot: $218 → first line to watch for strength.
Upside targets: $280–308 based on monthly R2/R3 levels.
SOL’s structure suggests higher percentage upside potential than BTC if momentum persists.
Ethereum (ETH):
Price action remains choppy, with a bullish reversal pattern pointing to $4,500–4,600, but only if $3,900 support holds.Monthly pivot: $4,238 → the must-hold breakout line for bulls.
On-chain: A massive spike in Token Age Consumed near $3,900 suggests a major directional move (≈$1,500) is brewing.
🔎 Market Structure & Positioning
Liquidation dynamics:
Large clusters of long liquidations sit under $113k.
Short liquidations stack up toward $117k, creating fuel for a squeeze higher before any pullback.
Spot order book: Still showing firm bids, keeping the bullish case intact.
Leverage: Heavy positioning on both sides could create whipsaw volatility.
⚠️ Risk Monitor
Technical models are flashing mixed signals:
Momentum gauges have eased slightly but not enough to confirm a lasting shift.
One mid-timeframe indicator shows a pending 12-hour sell trigger, hinting at the possibility of an early-October shakeout.
📌 Key Takeaways
BTC October pivot: $113,710 — holding above favors upside continuation.
Bulls need daily closes above $114.6k to unlock $120k+.
SOL looks strong with pivots at $218 → $280–308; ETH must reclaim $4,238 to avoid deeper trouble.
Liquidation setups suggest a potential short squeeze toward $117k before another test lower.
Macro drivers: ISM release and Nasdaq correlation could dictate near-term direction.
🎯 Strategy Snapshot (levels only, not advice)
Short-term bias: Long from $115k, stop $107k, target $140k.
Medium-term bias: Trend strengthens above $117k; targets $132–160k.
Long-term bias: Cycle projection points to $230k; key structural support remains $72k.