Analyst: Bitcoin shows new short-term momentum and may approach the $124,000 price level in the coming months

Katie Stockton, founder of market research firm Fairlead Strategies, said that Bitcoin has shown new short-term momentum after emerging from the consolidation phase, so there is reason to continue to be bullish before the end of the year. He believes that Bitcoin is likely to approach the price level of $124,000 in the next few months, an increase of about 17%. According to data from Fairlead Strategies, over the past week, the company's technical short-term signals for Bitcoin pointed to bullishness, and the medium- and long-term momentum indicators also turned from neutral to bullish territory, and the daily moving average indicators were slightly close to a buy signal. However, Katie Stockton emphasized that Bitcoin's initial support level, its rising 50-day moving average of $90,261, represents a potential space for a drop of about 15% from the current level. (BusinessInsider)