Bitcoin's successful test of support in weekend sell-off puts it back on track to rise 53% from current levels, Katie Stockton says

Katie Stockton Strategy Bitcoin Crypto Weekend

30.11.2021 - 19:43

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Bitcoin's weekend sell-off to $53,300 likely tested the resolve of those who pitched the popular crypto to family over Thanksgiving, but it also successfully tested a key technical support level that signals more upside ahead.

The $52,900 has been a key support level monitored by technical analyst Katie Stockton of Fairlead Strategies, and the successful weekend test of that level means higher bitcoin prices are likely, according to Stockton.

«A short-term oversold upturn combined with the loss of short-term downside momentum supports a resumption of the intermediate-term uptrend,» Stockton explained in a Monday note. Stockton's technical momentum indicators for bitcoin are in bullish territory for the short, medium, and

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