Analyst: BTC's historic breakthrough unconfirmed, could face about 13% correction risk

Golden Finance reported that technical analyst and founder of Fairlead Strategies, Katie Stockton, pointed out that BTC failed to maintain above $100,000 for a few days, which resulted in the historical breakthrough not being 'confirmed,' and opened up a potential weakness in BTC in the short term. She stated that the short-term bullish momentum is weak, and there is a new daily candlestick-level counter-trend signal supporting BTC to consolidate in the coming weeks before continuing its rising trend. Investors should follow two support levels, including the 20-day MA at $97,233 as of early Tuesday and the 50-day MA at $85,342, which means that BTC may have about 13% downside potential. If the 50-day MA is also breached, Katie Stockton pointed out $73,800 as the next possible level for BTC to reach, representing about 24% potential downside space.