Bitcoin (BTC) resumed gains on October 11 and rose to nearly $58,000. This represents a nearly 100% recovery from the May crash and shows that any regulatory actions from China have only a temporary effect.

Bitcoin’s strong rally in recent days has boosted sentiment, with analysts returning to their six-figure forecast. Jeffrey Kendrick, head of currency research in emerging markets at Standard Chartered, expects the price of bitcoin to rise to $100,000 by early next year.

Daily market indices for cryptocurrency. Source: Coin360
David Gokhstein, founder of Gokhshtein Media and PAC Global, was more bullish as he expects Bitcoin to reach $100,000 by the end of the year. Analyst and trader at Rekt Capital believes that Bitcoin will rise more than $100,000 in the current cycle.

Can bitcoin weather the air resistance and challenge all-time highs, and will altcoins catch up? Let’s take a look at the top 10 cryptocurrency charts to find out.

Bitcoin’s long week on the October 10 candle shows that the bears were selling at higher levels, but their failure to push the price below the $52,920 breakout appears to have encouraged the bulls.

BTC/USDT daily chart. Source: TradingView
Violent buying on October 11th pushed the price during the day until October 10th to $56,561.31, making it possible to rise to $60K. The 20-day exponential moving average (EMA) ($50,196) and the overbought RSI indicate that the bulls are in control.

If the bulls push the price above $60,000, the BTC/USDT pair could challenge the all-time high at $64,854. The bullish momentum could intensify if buyers break this barrier.

The first sign of weakness could be a breakout and a close below the breakout level of $52,920. This indicates that traders are making profits at higher levels. Bears will then feel the possibility and try to push the price below the 50-day single moving average (SMA) ($47,727).

Ether (ETH) fell sharply on October 10, but the bulls bought aggressively in the fall of the 20-day moving average ($3369) on October 11. This is a positive sign as it shows that the mood is upbeat and that traders are buying he-she. Error.

ETH/USDT daily chart. Source: TradingView
If the bulls push the price and close above the neck, the Inverted Head and Shoulders (H&S) pattern will complete. This reversal setup has a target pattern of $4,657, but the bears are likely to have other plans as they attempt to put a strong resistance at $4,027.88 and then reach the all-time high at $4,372.72.

This bullish view will be refuted if the price reverses from air resistance and drops below the 50-day moving average ($3,351). Then ETH/USDT may drop to $3000 for psychological support.

Binance coin (BNB) broke and closed below the 50-day simple moving average ($425) on October 8. The bulls tried to push the price back above the 50-day SMA on October 9, but failed and called the short-term traders to sell. …

BNB/USDT daily chart. Source: TradingView
The BNB/USDT pair fell below the 20-day moving average ($409) on October 10, but the bears failed to seize the opportunity. Strong buying at lower levels pushed the price back above the 20-day moving average on October 11th.

If the bulls increase the price above the 50-day simple moving average, the pair can move up to the neck. A breakout and a close above this level will complete the H&S reversal pattern. The pair could then build up to $518.90, and if this level is broken, the rally could continue to the target pattern at $554.

Conversely, if the price breaks down from the 50-day SMA or the neck and drops below the 100-day SMA ($383), the next stop could be $320.

Cardano (ADA) works in a symmetrical triangle that usually acts as a continuation pattern. If the bears go down and keep the price below the triangle line, the correction can continue.

ADA/USDT daily chart. Source: TradingView
The 20-day flat EMA ($2.24) and the Relative Strength Index (RSI) just below the mid-point provide no obvious advantage to the bulls or the bears. The bulls will try to curb the decline to $1.94, but if they fail, sales could accelerate and the ADA/USDT pair could drop to $1.60.

Alternatively, if the price jumps from the triangle guide line and rises above the 20 day EMA, the bulls will try to push the pair through the line.

Source: CoinTelegraph