Analyst: Bitcoin’s historic breakthrough cannot be confirmed, or faces a correction risk of about 13%
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2024-12-11 23:03 8,147
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Golden Finance reported that technical analyst and Fairlead Strategies founder Katie Stockton pointed out that Bitcoin failed to maintain above $100,000 for more than a few days, leaving the historic breakthrough "unconfirmed" and opening Bitcoin in the short term. Potentially a weak situation, he said the short-term bullish momentum is weak and there is a new daily level counter-trend signal supporting Bitcoin to consolidate in the coming weeks before continuing its uptrend. Two support levels that investors should be watching include the 20-day moving average at $97,233 as of Tuesday morning and the 50-day moving average at $85,342, which means Bitcoin has potential for around 13% downside. If the 50-day moving average also breaks down, Katie Stockton pointed to $73,800 as the next possible level for Bitcoin, which represents a potential downside of about 24%.