"Uncertain Bitcoin Drives Investors to SUI, APT, TAO, WIF"

Bitcoin's range-bound volatility seems set to continue, but SUI, APT, TAO, and WIF may rise in the coming days.This week, Bitcoin made a significant recovery from a low point below $60,000, but buyers...

Bitcoin's range-bound volatility seems set to continue, but SUI, APT, TAO, and WIF may rise in the coming days.

This week, Bitcoin made a significant recovery from a low point below $60,000, but buyers have struggled to maintain higher levels. Buying the dips and selling the rallies suggest the formation of a narrow trading range in the short term.

A small positive factor is that lower levels have shown strong demand. After three consecutive days of outflows, the U.S. spot Bitcoin exchange-traded fund saw an inflow of $253.6 million on October 11.

Bitcoin remains in a sideways price trend, but some analysts seem optimistic about altcoins. Depending on specific indicators, analysts believe the altcoin market may enter a "season of only up, no down."

If Bitcoin stays above $60,000, traders may gradually shift their focus to selecting altcoins. Let's examine the top 5 cryptocurrencies that have shown strong performance on the charts.

Bitcoin Price Analysis

Recently, Bitcoin broke above the 20-day Exponential Moving Average ($62,119), but bulls failed to push the price above the overhead resistance at $65,000.

BTC/USDT daily chart. Source: TradingView

Sellers are attempting to pull the price back below the 20-day moving average. If they manage to do so, the BTC/USDT pair could drop to the 50-day Simple Moving Average ($60,727). The support zone between the 50-day SMA and $60,000 is crucial for bulls, as a break below that zone could open the door to a drop to $57,500.Contrary to this assumption, if the price bounces strongly from the 20-day moving average, it indicates that bulls are buying during a minor dip. The currency pair may then rebound to $66,500. This level may pose a solid challenge once again, but if the bulls gain the upper hand, the rally could reach $70,000.

The 4-hour chart shows that the price has retreated from the resistance line of the downtrend channel pattern but found support at the moving average. If the price recovers from the moving average, bulls will attempt to push the currency pair to break through the channel and start a rebound to $65,000.

Conversely, if the price breaks through and maintains below the moving average, it suggests that the currency pair may oscillate within the channel for a while. The currency pair may then fall to $60,000.

Sui Price Analysis

Sui rebounded from the 20-day moving average ($1.82) and soared above the resistance level of $2.18 on October 12th.

Bears will attempt to pull the price down and maintain it below the breakout level of $2.18, trapping aggressive bulls. If they succeed, the SUI/USDT pair may correct to the 20-day EMA, which remains a key support level to watch. A break below the 20-day EMA could initiate a deeper correction to $1.60.

On the contrary, if the price closes above $2.18, it indicates that bulls are trying to turn this level into support. This could initiate the next uptrend to $2.50, and then to $3.00.

The $2.18 level is likely to witness a fierce battle between bulls and bears. If the price breaks below $2.18 but bounces from the 20-EMA, it indicates buying on dips. This increases the likelihood of an upside breakout and a resumption of the uptrend.

Alternatively, if the price breaks below the 20-EMA, it indicates that short-term bulls are taking profits. The currency pair may then fall to the uptrend line. A break below this support could drag the currency pair down to $1.60.Aptos Price Analysis

Aptos APT has risen to $10.06, but it faces selling near the resistance level of $10.50, indicating that bears are still active at higher levels.

Buyers must maintain the price above $9.50 to improve the prospects of breaking through $10.50. If they do so, the APT/USDT pair may accelerate its rise to $14.50, where profit-taking may occur.

On the downside, if the price breaks below $9.50, the pair could drop to the 20-day moving average ($8.48). A strong rebound from the 20-day moving average could attempt to push the pair above $10.50 once again, but a break below the 20-day moving average would indicate that bears are trying to make a comeback.

The 4-hour chart shows that bears are trying to protect the $10.50 level, but bulls are not giving up much, which is a small positive factor. This suggests that buyers anticipate the pair will move higher. A breakout and close above $10.50 could pave the way for a rebound to $12.

Conversely, if the price falls and breaks below the 20-EMA, it indicates that bulls have given up and are taking profits. This could cause the pair to drop to the 50-SMA.

Bittensor Token Price Analysis

Bittensor TAO at $660.32 has been in an uptrend over the past few days. Bears have attempted to pull the price below the breakout level of $530, but bulls are holding their ground.The seller is attempting to halt the rise at $680, but if the bulls do not relinquish too much, the likelihood of a breakout increases. The TAO/USDT pair may drop to the upper resistance level of $760.

Although the upward-sloping moving averages suggest a favorable position for buyers, the negative divergence on the RSI indicates a weakening momentum. Should the price break below the 20-day moving average ($560), the pair could plummet to $489.

The 4-hour chart reveals the formation of a bearish ascending wedge pattern. If the price breaks below the moving averages, bears will attempt to pull the pair below the support line. Should they succeed, the pair may drop to $489, followed by a decline to the pattern target of $433.

Conversely, if the price bounces off the moving averages, it increases the probability of breaking through the resistance line. The failure of the bearish pattern is a bullish signal, which could trigger a rebound to $760.

Dogwifhat Price Analysis

The Dogwifhat WIF price at $2.80 successfully retested the breakout level on October 10th, indicating a change in the short-term trend.

Bears are trying to halt the upward momentum at $2.89, but this level is likely to be breached. Should buyers maintain the price above $2.89, the WIF/USDT pair could soar to $3.58, eventually reaching $4.

The key level to watch on the downside is the 20-day EMA ($2.34). A break below and closing below this level would be the first sign of bulls rushing to take profits. The pair may then drop to the 50-day SMA ($1.90).

Both moving averages are trending upward on the 4-hour chart, and the RSI is in the positive territory, indicating that bulls have the advantage. Should buyers push the price above $2.89, the pair may touch the resistance line near $3.10. This level may attract selling, but if the bulls persist, the pair could gain momentum and soar to $3.58.If the price continues to decline and breaks below the 20-EMA, this positive outlook will become invalid in the short term. Then the currency pair may fall to the support line of the channel.