Welcome to another crypto market outlook for the 5th of October!
Uptober is finally here, and the crypto market hasn’t seen a single bearish day since the start of October. Is this a fake bounce, or is the final phase of the bull run finally here? Let’s find out together.
‍Today, we will cover the following topics:
– Market Heatmap and Fear and Greed Index
– US500 and DXY
– USDT.D, Bitcoin and Ethereum Analysis
– Quotes / Advices
– Closing Remarks
Market Heatmap and Fear and Greed Index
The 7-day crypto heatmap has shifted entirely to bullish this month, which is a relief for crypto traders and the entire market.
The Fear and Greed Index has shifted from fear to greed, signaling optimism once again among investors and traders.
US500 and DXY analysis
As per our previous US500 analysis, it is still printing new all-time highs every single day, confirming that the bullish cycle remains intact.
As long as the US500 is trading within the rising channel marked in orange, the bulls will remain in control.
The bears will only take over for a correction if the last low, marked in red at $6,637, is broken to the downside.
DXY remains weak, trading below the $100 resistance level, which is of course positive for both the stock market and the crypto market.
For the bears to remain in control of DXY, a break below $97.45 is needed.
Meanwhile, the bulls could still trigger a short-term correction phase.
USDT.D, Bitcoin, and Ethereum analysis
As per our latest USDT.D analysis, it rejected the 4.61% resistance level perfectly and has been bearish since then, which is, of course, bullish for the crypto market.
USDT.D is now retesting a strong structure marked in blue at 4.2%.
For the bears to remain in control, which is bullish for crypto, a break below 4.2% on USDT.D is needed.
Meanwhile, the bulls could still push for a short-term correction, which would be bearish for crypto.
As per our latest BTC analysis, it broke above the $118,000 structure marked in green, meaning the bulls have taken over in the long term.
BTC even recorded a new all-time high this week! Congratulations to all HODLers!
As long as BTC is trading within the rising wedge pattern marked in red, the bulls will remain in control in the short and medium term.
As per our latest ETH update, it broke back above the $4,000–$4,100 resistance zone, which is now acting as support.
As long as the $4,000 round number holds as support, the overall bias will remain bullish for ETH.
After breaking above the $4,230 structure marked in red, as mentioned last week, ETH’s momentum has shifted to bullish.
As long as it remains trading above the trendline marked in red, we’ll be looking for trend-following longs on every bearish correction.
Quotes / Advices
If you want real insights that can make you more money, look at the scars running up and down your account statements. Stop doing what’s harming you, and your results will get better. It’s a mathematical certainty!
~ Kurt Capra
Closing Remarks
In summary, October has kicked off strongly, with the crypto market showing consistent bullish momentum.
The 7-day heatmap is fully green, and the Fear and Greed Index has shifted from fear to greed, reflecting renewed optimism. US500 continues hitting new all-time highs, while DXY stays weak below $100, both supporting the bullish outlook.
USDT.D remains bearish below 4.2%, favoring crypto strength. Bitcoin broke above $118,000 to a new all-time high, and Ethereum reclaimed the $4,000 zone, confirming bullish momentum. Overall, sentiment, structure, and price action align with a solid “Uptober” trend.
