Viewpoint: The current pullback can be seen as an opportunity to increase exposure to Bitcoin

ChainCatcher news, Katie Stockton, the founder of Fairlead Strategists, pointed out that Bitcoin may experience bearish momentum in the short term, with expectations of a drop to around $84,500 in the coming weeks, representing a decline of about 10%.

If the downward trend continues, the next support level could be at $73,800, indicating a potential drop of 22%. Bitcoin fell below the 50-day moving average last week, confirming mid-term overbought and sell signals, supporting a price correction in the first quarter of 2025.

Stockton stated that the negative momentum based on the daily MACD and the 20-day moving average clearly indicates a bearish bias in the short term. However, she remains optimistic about Bitcoin's long-term prospects, noting that the monthly stochastic indicator and MACD continue to support its long-term upward trend. She believes that the correction will present an opportunity to increase Bitcoin investments.