Bitcoin is showing signs of recovery after the sharp drop in June.
Katie Stockton, Founder and Managing Partner of Fairlead Strategies, a technical analysis firm, shared her bullish view on BTC in an interview with CNBC. She said that Bitcoin found support at the $25,000 level and started to bounce back.
Katie Stockton Points to $36,000 in Bitcoin Price
“According to our estimates after the recent rally, there may be room to rise to the $36,000 level,” Stockton said.
Stockton cites the recent decline in Bitcoin before a similar rise in the equity markets as a key indicator of this potential rise.
She also pointed to the drop in the volatility index, which she believes is a harbinger of the rise in both the BTC and equity markets.
During the CNBC “Squawk Box” interview she attended, she also touched on the performance of the Stockton stock market and drew attention to the correlation between Bitcoin and the stock market.
After BlackRock issued and re-applied its Bitcoin Spot ETF, the BTC price rose above $31,000 today and is trading at $31,216 at the time of this writing.
*Not investment advice.
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