NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Fairlead Strategies’ Katie Stockton explains Bitcoin’s short term price outlook

by July 26, 2022
written by July 26, 2022

Katie Stockton, the founder and managing partner at Fairlead Strategies, believes the crypto market could see yet more downside volatility, largely in correlation with the broader financial markets amid Fed-driven sentiment.

According to the market researcher, the outlook for cryptocurrencies in the short term leans more towards a bearish retest of key support zones rather than a fresh breakout above critical resistance.

And this perspective, she told Bloomberg in an interview on Tuesday, is reflective of the general outlook for risk assets. She said:

“We are definitely in a bear market cycle when it comes to cryptocurrencies, and really, risk assets more broadly. If you look at equity markets, downtrends have been in place year-to-date really across the board. And of course we have had some stabilization over the past few weeks and that gave some folks confidence that perhaps a bottom was being put in place. We’re not so convinced.”

She points to the “short-term overbought condition” currently engulfing the market as strengthening the likelihood of fresh downside momentum. This is also more likely if the broader risk asset market slips into a new downtrend. In her view, Stockton believes the negative long-term momentum is likely to persist.

Bitcoin faces dip below key support

On Tuesday, Bitcoin (BTC/USD) dropped by more than 4% in early morning trades, with bears poised above the $21,000 price level.

While bulls hold above the level, Bitcoin’s retreat below the 50-day moving average, currently near $21,988 puts the critical support at $20,000 in jeopardy. Indeed, the main support zone is in the $19,500 – $18,300 range.

According to the analyst, this buffer zone is “not too far below current levels” and that fresh pressure across risk asset markets could put it “in jeopardy of ultimately breaking.”

Last month, Bitcoin traded to lows of $17,600 after breaking below the psychologically important $20k level.

The post Fairlead Strategies’ Katie Stockton explains Bitcoin’s short term price outlook appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
FTSE 100 hits resistance ahead of BT, Lloyds, GSK, BAT, Shell earnings
next post
Zero Impact’s Grim Cost

You may also like

UBS renames Sergio Ermotti as CEO to lead...

March 29, 2023

Nextracker stock could climb to $40: Bank of...

March 29, 2023

Next plc results: full-year sales up 8.4%

March 29, 2023

CAC 40 forecast amid the recent French protests

March 29, 2023

If you started investing at the stock market...

March 29, 2023

Nikkei 225 price prediction as Japanese parliament votes...

March 29, 2023

Next PLC share price dives after weak guidance:...

March 29, 2023

Affirm stock price forecast: AFRM braces for more...

March 29, 2023

Adani Enterprises share price analysis points to a...

March 29, 2023

Needham analyst reacts to Micron Q2 earnings

March 29, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    Headline Inflation Falls, But Core Inflation Remains Elevated

  • 2

    My Trigger to Enter $VAPR

  • 3

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 4

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 5

    Pay Attention to These Stocks

Recent Posts

  • UBS renames Sergio Ermotti as CEO to lead Credit Suisse merger

    March 29, 2023
  • Nextracker stock could climb to $40: Bank of America

    March 29, 2023
  • Soracom Adds Industrial SIM to IoT SIM and eSIM Portfolio

    March 29, 2023
  • Global Cellular IoT Module Shipments Jump 14% YoY in 2022 to Reach Highest Ever

    March 29, 2023
  • Next plc results: full-year sales up 8.4%

    March 29, 2023

Categories

  • Economy (715)
  • Editor's Pick (309)
  • Investing (2,019)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick