According to ChainCatcher, Katie Stockton, founder of Fairlead Strategists, points out that Bitcoin may show bearish momentum in the short term, with expectations of falling to around $84,500 in the coming weeks, indicating a decline of about 10%.
If the downward trend continues, the next support level may be at $73,800, representing a 22% decline potential. Bitcoin broke below the 50-day moving average last week, confirming medium-term overbought and sell signals, supporting a price correction in the first quarter of 2025.
Stockton states that based on the negative momentum of the daily MACD and the 20-day moving average, the bearish bias is evident in the short term. However, she remains optimistic about Bitcoin's long-term prospects, noting that the monthly stochastic indicator and MACD continue to support its long-term rise. She believes that the correction will be an opportunity to increase Bitcoin investments.
