Crypto's total market cap dropped nearly 7% in the last day to $3.41 trillion.Getty Images; Jenny Chang-Rodriguez/BIBitcoin could be headed for a multiweek correction, according to Katie Stockton.The strategist said bitcoin was flashing a "sell" signal, given recent trading patterns.She predicted the crypto could find support around $84,500, implying a 10% drop from current levels.Bitcoin's post-election momentum has weakened, and the crypto could soon see a sell-off that stretches on for weeks, according to a top technical strategist.Katie Stockton, the founder of Fairlead Strategists, thinks bitcoin could be headed for another 10% drop, thanks to a handful of technical indicators that suggest bearish momentum over the near term.Over the coming weeks, the cryptocurrency could drop to a support level of around $84,500, Stockton said, implying 10% downside from current levels.
Bitcoin Is Flashing A Sell Signal That's Pointing To A 10% Drop Ahead, Technical Analyst Says
jsor@businessinsider.com (Jennifer Sor), Business Insider
Tue, 12/31/2024 - 8:27am
Topics: images jenny chang-rodriguez/bibitcoin katie fairlead strategists december business insider stockton macd ma pointing drop technical flashing a sell signal crypto support current weeks moving correction implying momentum average price daily supports year bearish indicators short-term bullish headed monthly level levels
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