Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom
Bitcoin price action on monthly timeframes has made a historic move to the touch the lower Bollinger Band – a popular technical indicator and volatility measuring tool. Although he warns there isn’t yet a sign that a bottom is in, the tool’s creator says where price action tapped is a “logical” level for such a bottom to occur. Unprecedented Bitcoin Price Action Taps Monthly Bollinger Band For First Time In History Expectations for Bitcoin price in 2022 were closer to $100,000 per coin and above. Yet the top cryptocurrency today is trading close to its former 2017....
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Last week, when the June monthly candle came to a close in Bitcoin, it also signaled the end to the second quarter of the year and its first half. The top cryptocurrency suffered its worst quarterly decline since 2011, but it ultimately held above a key support level. Here is a closer look at the quarterly support level currently holding in BTCUSD and how it has put in nearly ever major bottom in the past. Bitcoin Crash Falls To Level Where Bear Markets Bottom Throughout the 2018 bear market, a primary narrative giving hope to bag holders, was the fact that institutions would eventually....
In this episode of NewsBTC’s daily technical analysis videos, we look at the latest move up in Bitcoin price using the Bollinger Bands across a variety of timeframes and explain why a close above the upper band could lead to a larger move to the upside. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 4, 2022 Bitcoin price had another decent sized move up to above $20,000 after continuing to respect a rounded trendline. Related Reading: Bitcoin Bounce Coincides With Possible Macro Reversal | BTCUSD Analysis October 4, 2022 Biblical Bear Market....
Bitcoin price is current trading at just below $30,000 after spending weeks building up pressure in a tight trading range. The lack of volatility has resulted in a technical signal that says explosive volatility is ahead, and has just begun. Even the tool’s creator has spoken up on the volatility to come. Bollinger Bands Expand After The Second-Tightest Ever The Bollinger Bands in Bitcoin are a volatility measuring tool. Because BTC is so volatile, it makes for a wild rollercoaster ride of a technical indicator. At cycle peaks when BTC is the strongest, the bottom Bollinger Band....
The Bollinger Band shows the Bitcoin price might see a spike in volatility, similar to 2016’s post-having cycle. For the first time since 2016, the Bollinger Band width of Bitcoin (BTC) dropped below 0.95. The Bollinger Band is a widely utilized technical indicator that evaluates the volatility trend of an asset. It might signify that a huge volatility spike is imminent.The price of Bitcoin has been relatively stable from 2019 to 2020. BTC mostly ranged in between $6,000 and $12,000, apart from March when it plummeted below $3,600.The monthly Bitcoin price chart with Bollinger Band.....
Since the Bitcoin price reached a new yearly high of $31,840 last week, only to invalidate the bullish breakout within a few hours and fall towards $30,000, there has been a strange tranquility in the market. Already since June 23, BTC has been in the trading range between $29,800 and $31,300, with every breakout attempt to the upside and downside having failed within a very short period of time. However, one of the most prominent technical indicators, the Bollinger Bands, predict that this calm may soon be over. Created by the esteemed trader John Bollinger, these bands provide invaluable....