Bitcoin Builds Early “Uptober” Support Base

Bitcoin started the new month on a strong note, rising $3,236 (2.9%) to trade near $114,350. The move could mark the establishment of an early support floor for the anticipated “Uptober” rally, as buyers continue to defend key technical zones.

Technical Structure

BTC/USD remains above its 100-day exponential moving average, which has served as dynamic support since April. Despite several brief breakdowns over the past few months, each dip has attracted renewed buying interest, reinforcing this level as a pivotal trendline for the ongoing uptrend.

Upside Levels to Watch

• $116,500 – Initial resistance from late September intraday highs.

• $120,000 – July swing high and a strong psychological barrier.

• $124,000 – Key resistance zone from August.

• $128,000 – Year-to-date peak; clearing it could accelerate momentum.

• $140,000 – Measured move target aligning with Fibonacci extensions of the April–August rally.

• $150,000 – Major psychological milestone for bulls.

Outlook

If BTC continues to hold above the 100-day EMA, the technical setup favors gradual accumulation ahead of key macro catalysts this month — including U.S. jobs data, Fed minutes, and potential updates on crypto ETF approvals.