Bitcoin surges to 63,000! Analyst: “These 4 coins” have rebound potential

Bitcoin was affected by conflicts in the Middle East last week, causing it to fall to around US$60,000. However, with the good performance of US employment data, it has rebounded in recent days and reached a high of US$63,980 this morning (7th). As of Priced at time of writing is $63,668.

(Cointelegraph) Senior analyst Rakesh Upadhyay said early this morning that although October, known as Uptober, had a slow start, it is expected that the situation may improve later.

He pointed out that looking at the daily chart, Bitcoin has rebounded from the 50-day moving average ($60,589), indicating that bulls are trying to form higher lows. If the price can sustain above the 20-day EMA ($62,237) in the outlook, upward momentum may increase and increase the likelihood of a jump to $66,500.

This level may attract bears to enter the market, but a strong breakout by bulls could lead to further gains towards $70,000. However, if Bitcoin falls back below the 50-day EMA, it could plummet to $57,500 before falling to the key support at $54,000.

In addition to Bitcoin, Upadhyay also named four other altcoins that look strong, and attached an analysis of short-term support and resistance levels for reference only and not as an investment basis.

Aptos ($APT) Price Trend Analysis

Upadhyay pointed out that on September 21st, U.S. time, Aptos ($APT) broke out of a head and shoulders bottom pattern for the first time and retested the breakthrough level on October 2nd.

Looking at the daily trend, the 20-day exponential moving average (EMA, $7.89) has begun to rise, and the relative strength index (RSI) is also in the buy zone, indicating that bulls have the upper hand and $APT will attempt to rise into a head and shoulders bottom pattern. Target $11.

However, if $APT turns negative and falls below $7.65, the short-term bullish view will be invalidated, representing a false breakout and $APT could drop to $5.66.

Aptos（$APT）價格走勢分析Figure source: CointelegraphAptos ($APT) price trend analysis

Dogwifhat ($WIF) Price Analysis

Upadhyay noted that Dogwifhat ($WIF) bears are defending resistance above the downtrend line, but one positive sign is that the price did not fall below the 20-day EMA ($2.09).

Judging from the daily trend, both moving averages (MA, EMA) of $WIF have begun to rise, and the RSI is also in the buying zone, indicating that bulls have the advantage.

Bulls will have to hold prices above the downtrend line to signal a potential trend change; bears will attempt to halt the rise in the $2.64 to $2.89 range, but ultimately if bulls prevail, further gains to $3.50 are possible.

However, if $WIF turns negative and breaks below the 20-day EMA, it would mean that bulls have given up ground and a slide to the 50-day EMA ($1.77) could follow.

Dogwifhat（$WIF）價格分析Source: CointelegraphDogwifhat ($WIF) Price Analysis

Fantom ($FTM) Price Trend Analysis

Upadhyay noted that Fantom ($FTM) completed a head and shoulders bottom pattern on September 17th when it broke above $0.55. Usually, after a key point is broken for the first time, the market will retest that point.

Looking at the daily chart, the 20-day EMA ($0.62) may serve as short-term support. A sustained rise above $0.70 would signal a resumption of the uptrend, which could lead to a move up to the pattern target of $0.83 and eventually $0.93.

However, the short-term bullish case will be invalidated if $FTM turns negative and breaks below the $0.55 breakout level.

Fantom（$FTM）價格走勢分析Figure source: CointelegraphFantom ($FTM) price trend analysis

Bitget ($BGB) Price Trend Analysis

Upadhyay pointed out that Bitget ($BGB)’s recent trend has formed multiple higher lows and higher highs, indicating that it may be the beginning of a strong rebound trend.

Looking at the daily trend, the 20-day EMA ($0.99) has turned upward and the RSI is also in the buy zone, indicating that bulls have the advantage. If it can rise above $1.14, it could reach $1.22 later.

However, if $BGB pulls back and breaks below $1.02, it would mean that bears are still active at the highs and could then slide back to the uptrend line.

Bitget（$BGB）價格走勢分析Source: CointelegraphBitget ($BGB) price trend analysis

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice. The analysts’ views are for reference only. Users should consider whether any opinions, views or conclusions in this article are consistent with their specific circumstances. Invest accordingly and do so at your own risk.

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