Stockton Sees Room for Bitcoin to Continue Rally Despite Approaching Resistance

Fairlead Strategies founder Katie Stockton sees room for Bitcoin to continue its upward momentum. Since mid-August, BTC has surged more than 25%, and Stockton points to improving momentum and a basing breakout as evidence of this.

Stockton said in an interview with CNBC that while Bitcoin is no longer oversold following its sharp rally, it's not overbought yet. She noted that the cryptocurrency has cleared its 200-day moving average, a technical level that previously acted as significant resistance during May.

The immediate follow-through after the breakout has been particularly constructive, according to Stockton, with sustained gains helping confirm the move. However, Realvision chief crypto analyst Jamie Coutts cautioned that Bitcoin is approaching major resistance while rising altcoin leverage signals growing risk.