Bitcoin BTC rose 80% in the first two quarters of 2023, but fell 11% in the third quarter ending September. However, the bulls managed a positive monthly close in September, the first since 2016. October has a bullish track record, with only 2014 and 2018 producing negative monthly returns since 2013. This has boosted interest in altcoins, with select altcoins attempting to break above their respective overhead resistance levels.Bitcoin is trading above the moving averages since Sep. 28, indicating that the advantage is gradually tilting in favor of the buyers. The bears are trying to stall the rally near $27,500, but the bulls have not given up much ground. If the price turns down sharply from $28,143, the pair could retest the 20-day exponential moving average ($26,630). A strong bounce off this level could kick the price above $28,143.Maker MKR broke and closed above $1,370 on Sep. 26, indicating the start of a new uptrend. The bears tried to stall the up-move at $1,600 but the bulls purchased the dip at $1,432. If bulls propel the price above $1,600, the MKR/USDT pair could rally to $1,760 and then sprint to $1,909. Conversely, if the price turns down sharply and skids below $1,432, it could make room for a retest of the breakout level at $1,370.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	None
Companies	Bitcoin, Maker, CoinGlass, AAVE
Currencies	Bitcoin, THORChain, Maker, Injective
Securities	None