Bitcoin Soars Above $86,000 to Kickstart October

Bitcoin has started October on a strong note, surging above $86,000 in just two days. The BTC price climbed by 4.3% during this period, with the MACD and EMA indicators showing bullish signals.

The 4-hour chart shows that Bitcoin is currently testing its upper Bollinger Band resistance at $85,540.17. Meanwhile, the Relative Strength Index (RSI) sits at 68.18, while the MACD maintains a golden cross at 352.97.

According to analysts, this confluence of indicators points to a probable retracement towards the EMA50 support level at $83,827.26 before the next leg higher in the established bullish trend.