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Bitcoin could surge to $14,000 as short-term momentum improves, technical strategist Katie Stockton says

 


Bitcoin's 8% rally on Wednesday could be just the start of even bigger gains, if the analysis by Fairlead Strategies' Katy Stockton turns out to be correct.
In a note on Wednesday, Stockton said the technical improvement could push Bitcoin's price up to $ 14,000, up 10% from current levels.
“Bitcoin has seen short-term improvement as part of its long-term uptrend and has enough room for resistance, which is around $ 14,000,” Stockton said.
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Bitcoin surged 8% on Wednesday following news that PayPal will follow Square and allow its users to buy, sell and transfer cryptocurrency.
Many crypto investors, including Galaxy Investment Partners CEO Mike Novogratz, noted that the big banks will follow the same path as PayPal and that "we have crossed the Rubicon."
Technically speaking, Fairlead Strategies founder Katie Stockton sees more room for growth in Bitcoin, according to a report on Wednesday.
The technical strategist emphasized that bitcoin prices "picked up short-term momentum" after successfully testing a key psychological support level of $ 10,000 in early September.


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