Fairlead Strategies Founder Says Bitcoin's Rally Has More Room Than Gold's

Katie Stockton, founder of Fairlead Strategies, said Bitcoin (BTC) has more room to run than gold right now. She pointed to how differently the two assets bottomed out.

Stockton joined CNBC's "The Exchange" as BTC extended a sharp recovery. She said the digital asset is no longer oversold but has not become overbought either.

Bitcoin's Breakout Confirmed

Stockton described a basing phase that started in June. She said the retest came in July, and a breakout is now underway.

BTC cleared its 200-day moving average, a level she called an almost precise hurdle back in May.

"We have obviously very strong short-term momentum and improved intermediate-term momentum now off of these lows."

Katie Stockton, Fairlead Strategies, on CNBC

Bases often take time to complete, with multiple retests along the way, she noted. She said the immediate follow-through after the breakout helps confirm it.

Gold's Rally Looks Different

Gold tells a different story, according to Stockton. The metal's intermediate-term downtrend started later than BTC's. Its current bounce is a countertrend rally rather than a full trend reversal.

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