Fairlead Strategies founder Katie Stockton says Bitcoin (CRYPTO: BTC) remains attractive from a "very, very long-term" perspective, even as the asset repeatedly tests a key support zone.
75% To 80% Drawdowns Still Expected
In a CNBC interview on June 26, Stockton outlined Bitcoin’s $59,000 to $60,000 range remains an important technical support area after multiple retests.
She noted that Bitcoin recently failed near its 200-day moving average, which acted as resistance, and has since trended lower. It is in a long-term oversold condition that has persisted long enough to potentially influence the chart.
"Knowing the volatility, it’s down about 30% after failing right at that 200-day moving average," Stockton said.
