Stockton Sees Bullish Signs in Bitcoin Price Action

Katie Stockton, founder of Fairlead Strategies, recently shared her technical analysis of Bitcoin's price action. According to Stockton, Bitcoin's rally of more than 50% off its recent lows is a strong signal that a bull market may be underway.

Stockton pointed out that Bitcoin has broken above its 200-day moving average and the 83K, 84K resistance zone. Additionally, she noted that the flag pattern breakout and bullish monthly stochastic oscillator further support her thesis.

The key level to confirm a new Bitcoin bull market, according to Stockton's cloud model, is $93,000. However, she warned that momentum could turn defensive in Q4, which may be a cause for caution for investors.