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08/16 01:32Bearish

Fairlead Strategies: Bitcoin May Have Found Its Ma

# Trending Token Price Prediction Challenge #HTX 13th-Anniversary Carnival #HTX Creation Challenge — Post and Win 1,500U Fairlead Strategies: Bitcoin May Have Found Its Major LowA Long-Term Oversold Signal Fairlead Strategies founder Katie Stockton says the technical damage bitcoin has taken over the past several months may finally be running its course. To bolster her case, Stockton pointed to a rare long-term signal where bitcoin has registered a measurable oversold reading on two of Fairlead’s preferred long-term indicators, a combination that has historically preceded major turning points rather than brief bounces.We are seeing those signs of long-term downside exhaustion already,” she said, adding that momentum itself is beginning to tick higher on a long-term basis even as price stays under pressure. Stockton’s process leans on support levels, Fibonacci retracements (a charting tool that maps likely reversal zones based on a prior price swing) and the Ichimoku cloud model to identify where fresh demand is likely to appear. She added: “Not only is there a long-term oversold condition which is measurable, but then also we have a momentum uptick on a long-term basis.” She also drew a comparison to gold, which recently cleared its own 50-day moving average during a pullback. Even so, Stockton argued bitcoin “has a better chance of putting in a major low” than gold does right now, framing the current setup as unusually favorable given how deep and prolonged the drawdown has already run.

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