Chesnot/Getty Images Bitcoin's breakout to record highs on Tuesday sets it up for more gains ahead, according to technical analyst Katie Stockton of Fairlead Strategies. Stockton's measured move price target of $69,121 for bitcoin represents potential upside of 10% from current levels.Bitcoin needs to see consecutive daily closes above its recent all-time-high to confirm the move higher, according to Stockton.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Bitcoin broke out to new all-time-highs on Tuesday, cruising past the $63,000 price level and hitting a record $63,275 as investor anticipation grows for crypto-exchange platform Coinbase's direct listing on Wednesday.The gains in bitcoin will likely continue in the short-term, technical analyst Katie Stockton of Fairlead Strategies told Insider, assuming that Tuesday's breakout is confirmed by daily consecutive closes above its previous record March high of about $61,742.
A Decisive Breakout In Bitcoin Has It Set Up For A Further 10% Gain In The Near Term, According To One Technical Analyst
mfox@businessinsider.com (Matthew Fox), Business Insider
Tue, 04/13/2021 - 8:59am
BING NEWS:
- Bitcoin Price Forecast: Uptrend Retained with Bounce off Key Support Zone
In the near-term, a bounce up to test resistance around the lines is possible if today’s high is exceeded. Today is likely to end as an inside day with the closing price near the day’s highs. At the ...
05/2/2024 - 9:31 am | View Link - Bitcoin tumbles 5%, tests key $60,000 price level as sell signal looms
If bitcoin does not quickly reclaim support at about $62,000, it faces a downward test of its next support level near $51,500, Katie Stockton said.
04/30/2024 - 8:25 am | View Link - Bitcoin Set to Become More Dominant Even as BTC Stares at First Monthly Loss Since August
Bitcoin's dominance rate has risen past key level, signaling further upside, according to Fairlead Strategies.
04/30/2024 - 7:33 am | View Link - Mexican Peso edges lower after release of GDP data
The Mexican Peso declines after the release of Q1 GDP growth data shows a slower year-over-year rate of growth. Quarterly GDP is higher at 0.2% than the previous quarter, however, providing an ...
04/30/2024 - 1:16 am | View Link - More
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