Bitcoin Breakout Could Be Around the Corner as Asset Is No Longer Oversold: Fairlead Strategies’ Katie Stockton

Bitcoin Magazine

Bitcoin Breakout Could Be Around the Corner as Asset Is No Longer Oversold: Fairlead Strategies’ Katie Stockton

Bitcoin is no longer oversold but there’s still time to buy, according to Fairlead Strategies’ Katie Stockton.

Speaking on Tuesday to CNBC, the financial research firm’s managing partner said that Bitcoin cleared its 200-day moving average back in May, meaning that a potential breakout could be coming.

Bitcoin started rallying last week on news that the Treasury would at least double the size of its liquidity-support buyback operations. It’s up over 22% over a seven-day period, and was recently trading for $78,915. The coin traded above $81,000 on Monday.

“It’s not overbought yet, so that’s the good thing,” said Stockton.

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