Bitcoin volatility can lead investors to SUI, APT, TAO and WIF.

Bitcoin (BTC) has recovered significantly from the week's drop below $60,000, but buyers are struggling to maintain higher levels. Buying on dips and selling on rallies indicates the formation of a tight range in the near term.

A little positive thing is that the lower levels are showing strong interest. After three days of outflows, the US-based bitcoin exchange saw $253.6 million in inflows on October 11.

Bitcoin remains stuck in sideways price action, but some analysts seem to be bearish on altcoins. Based on certain metrics, analysts believe that the altcoin markets may be entering a “lonely season”.

If Bitcoin holds above $60,000, traders may gradually shift focus to altcoins. Let's study the top 5 currencies that look strong on the charts.

Bitcoin price analysis

Bitcoin broke above the 20-day moving average ($62,119) on October 11, but the bulls failed to push the price towards the $65,000 resistance.

Sellers are trying to push the price back below the 20-day EMA. If they manage to do that, the BTC/USDT pair could slide towards the 50-day simple moving average ($60,727). The support zone between the 50-day SMA and $60,000 is critical for the bulls to defend against, as a break below it could open the door to a move down to $57,500.

Contrary to this assumption, if the price rebounds strongly from the 20-day EMA, it suggests that the bulls will buy on minor dips. The couple can then collect about $66,500. This level could once again pose a tough challenge, but if the bulls prevail, a move to the upside could reach $70,000.

The 4-hour chart shows that the price has broken down from the resistance line of the descending channel pattern, but is gaining support from the moving averages. If the price changes from the moving averages, the bulls will try to move the pair above the channel, which starts the rally to $65,000.

On the contrary, if the price breaks down and is below the moving average, it indicates that the pair may fluctuate in the channel for some time. Then the couple can go down to 60,000 dollars.

Sui price analysis

Sui (SUI) bounced back from the 20-day EMA ($1.82) on October 11 and rose above resistance above $2.18 on October 12.

The bears will try to attract and hold the price below $2.18 and trap aggressive bulls. If they can pull through, the SUI/USDT pair may retrace to the 20-day EMA, which remains an important support for us to watch. A break below the 20-day EMA could initiate a deep correction towards $1.60.

Conversely, if the price stays above $2.18 on a closing basis, it indicates that the bulls are trying to turn the level into support. That could initiate the next uptrend to $2.50 and then to $3.

The $2.18 level could witness a fierce battle between bulls and bears. If the price breaks below $2.18 but bounces back from the 20-EMA, it indicates dips are being bought. That increases the chance of an inverted breakout and a resumption of the uptrend.

Alternatively, if the price breaks below the 20-EMA, it suggests that short-term bulls are taking profits. Then the pair may fall to the upper line. A break below this support could pull the pair towards $1.60.

Aptos price analysis

A bullish move in Aptos (APT) is trading near resistance at $10.50, indicating that bears remain highly active.

Buyers should hold the price above $9.50 to improve the chance of a breakout above $10.50. If they do that, the APT/USDT pair could accelerate to $14.50, where profit booking could begin.

On the downside, if the price falls below $9.50, the pair may decline to the 20-day EMA ($8.48). A strong break above the 20-day EMA could see another attempt to push the pair above $10.50, but a break below the 20-day EMA would indicate that the bears are attempting a comeback.

The 4-hour chart shows that the bears are trying to maintain the $10.50 level, but a little positive is that the bulls have not given much ground. This indicates that the buyers expect the pair to move higher. A break and close above $10.50 could clear the way for a rally to $12.

Instead, if the price declines and breaks below the 20-EMA, it suggests that the bulls are giving up and taking profits. That could sink the pair to the 50-SMA.

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Bittensor Token price analysis

Bittensor (TAO) has been on a high for the past few days. The bears tried to pull the price below $530, but the bulls held their position.

The sellers are trying to stop the upward movement at $680, but if the bulls do not give more space, the possibility of a breakdown will increase. The TAO/USDT pair may move to the upper resistance at $760.

Although the upward moving averages suggest gains for buyers, the negative divergence on the RSI is weakening the momentum. If the price breaks below the 20-day EMA ($560), the pair may drop to $489.

The 4-hour chart shows the formation of a bearish wedge pattern. If the price slips below the moving averages, the bears will try to pull the pair below the support line. If they succeed, the pair could drop to $489 and then to the $433 pattern target.

Conversely, if the price rebounds from the moving averages, it increases the probability of a loss above the resistance line. A bearish pattern failure is a bullish signal, and that could initiate a rally towards $760.

Dogwifhat price analysis

Dogwhiphat (WFF) successfully retested the breakout level on October 10, signaling a short-term trend reversal.

The bears are trying to stop the upward movement at $2.89, but the level can be crossed. If buyers keep the price above $2.89, the WIF/USDT pair could rise to $3.58 and eventually to $4.

On the downside, an important level to watch out for is the 20-day EMA ($2.34). A break and close below this level will be the first sign that the bulls are in a rush to book profits. The pair may descend towards the 50-day SMA ($1.90).

Both moving averages are trending up on the 4-hour chart, and the RSI is in the positive zone, indicating that the bulls have an edge. If buyers drive the price above $2.89, the pair may reach the resistance line near $3.1. This level may attract selling, but if the bulls continue, the pair could pick up momentum and move higher towards $3.58.

If the price continues to decline and breaks below the 20-EMA, this bullish outlook is worthless in the near term. The pair may close to the support line of the channel.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.