🏆 Today's Chart of the Day was shared by @TrendSpider.
- Bitcoin is approaching record highs for the first time since mid-August after reclaiming $120k today. We're only two days into October, but it's already up +5.4% MTD, pacing for its best month since July.
- Over the weekend, it successfully retested support at $107k–$110k, avoiding its worst week since March. From here, a move above $125k would complete a three-month base and unlock further upside.
- With Bitcoin on the verge of breaking out, TrendSpider notes that October has been its best month over the past decade, boasting a 91% win rate and a massive average return of nearly +20%.
The Takeaway: Bitcoin is completing a three-month consolidation phase and flirting with record levels as it enters its best month of the year. With everything working in its favor, if Bitcoin doesn't rally in October, it will be a big red flag.
