Cryptocurrencies Price Prediction: Crypto, Bitcoin & Chainlink – European Wrap 2 October

Week ahead: Fed speech and NFP likely to dictate crypto market moves this week

With the start of 2023’s fourth quarter, things are finally getting interesting in crypto. While the next 12 weeks are extremely important, let’s start by focusing on what to expect this week.

• Fed Chair’s speech draws attention on October 2.

• Nonfarm Payrolls (NFP) data arrives on October 5. 

• Bitcoin fractal faces a reality check. 

• Nearly $40 million worth of altcoin unlocks from October 2 through October 6. 

• Multiple cryptos trigger a bullish breakout, signaling trend reversal.

BTC longs/shorts ratio chart is waking up from the support

BTC Longs/Shorts ratio chart is telling us how traders are positioned. When BTC longs are at the lows while shorts are at the highs, traders are shorting the market, so market can react opposite as the crowd, which means that Bitcoin and ALTcoin friends can be ready for a recovery.

Three altcoins that have kickstarted Q4 rally: LINK, RDNT, FLOKI

Crypto market volatility seems to be making a comeback with the start of 2023’s fourth quarter , and some altcoins are already making headway. Chainlink (LINK), Radiant Capital (RDNT) and Floki Inu (FLOKI) are some cryptos that are showing aggressive upside moves. 

Chainlink (LINK) price has shot up by 39% in September, pushing past the 15-month resistance level around the $7.80 area. This massive uptick now faces a decision – an extension of this move or a pullback. Considering recent whale activity, the chances of a northbound move are high.