Analyst: Bitcoin shows new short-term momentum and may approach the $124,000 price level in the coming months
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Odaily Odaily reports that Katie Stockton, founder of market research firm Fairlead Strategies, said that after breaking out of the consolidation phase, Bitcoin has shown new short-term momentum, and therefore there is reason to continue to be bullish by the end of the year. She believes that Bitcoin may approach a price level of $124,000 in the next few months, an increase of about 17%. According to data from Fairlead Strategies, the company's technical short-term signals for Bitcoin have turned bullish over the past week, and the medium- and long-term momentum indicators have also turned bullish from neutral. However, Katie Stockton emphasized Bitcoin's preliminary support level, which is its continuously rising 50-day moving average of $90,261, representing a potential downside of about 15% from the current level. (BusinessInsider)
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