Analyst: BTC's historic breakthrough unconfirmed, could face about 13% correction risk

Golden Finance reported that technical analyst and founder of Fairlead Strategies, Katie Stockton, pointed out that BTC failed to maintain above $100,000 for a few days, which resulted in the historical breakthrough not being 'confirmed,' and opened up a potential weakness in BTC in the short term. She stated that the short-term bullish momentum is weak, and there is a new daily candlestick-level counter-trend signal supporting BTC to consolidate in the coming weeks before continuing its rising trend. Investors should follow two support levels, including the 20-day MA at $97,233 as of early Tuesday and the 50-day MA at $85,342, which means that BTC may have about 13% downside potential. If the 50-day MA is also breached, Katie Stockton pointed out $73,800 as the next possible level for BTC to reach, representing about 24% potential downside space.

BTC0.62%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Share
Comment
0/400
Fatimevip
· 2024-12-11 17:59
BTC Halving to Moon 🚀
Reply0
LookingForwardTovip
· 2024-12-11 15:58
13% of the downside space to 85300, in extreme cases may go to the 7s!!! Can't imagine it.
View OriginalReply0
YS-TheSceneryUnderThevip
· 2024-12-11 15:11
13% of the downside space to 85300, and in extreme cases it may go down to the 7s!!! Can't imagine it
View OriginalReply0
Myanuovip
· 2024-12-11 14:40
BitcoinHalving, just do it!👊
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)