Analyst: BTC shows new short-term momentum and may approach the $124,000 price level in the coming months.

2024-12-18 13:03:57

Odaily Planet Daily News According to Katie Stockton, founder of market research firm Fairlead Strategies, BTC has shown a new short-term momentum after breaking out of the consolidation phase, so there is reason to remain bullish before the end of the year. She believes that BTC could reach a price level of around $124,000 in the coming months, an increase of about 17%. According to Fairlead Strategies’ data, over the past week, the company’s short-term technical signals for Bitcoin (BTC) point to bullish, with the medium to long-term momentum indicators also transitioning from neutral to bullish territory, and the daily moving average indicator is slightly approaching a buy signal. However, Katie Stockton emphasized the initial support level for BTC, which is the rising 50-day moving average at $90261, representing a potential downside of about 15% from the current level. (BusinessInsider)

BTC-1.52%

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