Bitcoin Surpasses $41,000 as Technical Analysts Predict Bounce
- Fairlead’s Stockton eyeing resistance around the $51,000 level
- Fundstrat’s Newton sees $44,200 as meaningful upside target
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Bitcoin climbed above $41,000, advancing along with equities after China indicated it’s about to loosen monetary policy.
The largest cryptocurrency rose as much as 0.6% to $41,500 on Thursday, gaining for a second day. Katie Stockton, co-founder of Fairlead Strategies LLC, said technical indicators she follows suggest Bitcoin could be due for a short-term bounce to as high as $51,000, assuming it can break through its 200-day moving average, which stands at just above $48,000.