And Lift Off!

BTC 4hr candle chart, approximately 8:20am ET, 10/1/21.

Bitcoin is on the move! We’re finally seeing a reversal from the descending wedge consolidation pattern that has formed over most of the month of September. Currently, BTC is approaching $48k with momentum making a definitive swing upwards on the 4-hour candle chart. This was a fairly quick breakout that occurred throughout the night and is continuing into the morning. This is a great sign for the market and something many have been waiting for all month.

Ethereum 4hr candle chart, approximately 8:30am ET, 10/1/21.

Ethereum has followed BTC’s momentous gains, helping lead the overall market cap to just under $2.1 trillion once more. Ethereum has broken both a shorter-term pattern as well as a long-term monthly pattern.

At the time of posting, BTC is up 10% for the day and Ethereum is up 9% for the day.