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We are in the third week of October, and as many call it, Uptober is here. Since the month's low on October 10th, BTC has soared, gaining a notable 18% from $58,900 to $69,550 yesterday. This brings the price just below the 2021 all-time high of $69,200. Notably, we are now less than 10% away from establishing a new all-time high! This bounce should instill more confidence that if $BTC manages to reclaim and hold above the $67,900 level, we might see further upward movement in the week ahead.
However, if BTC fails to recover above $67,900 and breaks below Monday's low, we should be prepared for potential further declines, with the DM VAH at $65,720 being the next key level to watch. Economic events this week to monitor include the Unemployment Claims report on Thursday, which could introduce volatility, and the Flash Manufacturing PMI. We are precisely two weeks away from one of the U.S. presidential election, which is bound to stir the market.