Big Bitcoin Move Ahead: Bollinger Bands See Extreme Squeeze
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....
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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....
There will be a breakout up or down within weeks, consensus believes, with targets between $40,000 and $60,000. Bitcoin (BTC) recovered from new lows of $45,550 on Jan. 5 as analysts waited patiently for a "squeeze" to trigger fresh volatility.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalyst weighs prospect of "fakedown" towards $40,000Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to the previous day's levels near $47,000 on Binance at the time of writing.The repeated dips had failed to unsettle market participants, who now turned to the....
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....
Current BTC price action is no surprise given recent support and resistance focuses, says Bollinger bands creator John Bollinger. Bitcoin may have lost 35% since its all-time highs of $64,500, but its current price is actually “logical.”That’s according to veteran analyst John Bollinger, creator of the Bollinger bands trading indicator. Bollinger: Current price action "can tell a lot"In a tweet on May 18, Bollinger, who is well known as a source of Bitcoin (BTC) analysis despite decades in the market, called for calm following fresh volatility.“~43,000 is what we call a logical level for....
Bollinger Bands are a powerful indicator that traders use to gain clarity when the markets are rallying, consolidating and correcting. Trading is neither an exact science nor art. It is a mixture of both. There are scores of publicly available indicators and each claims to be the best. However, none of them are perfect or designed to be used in isolation.One of the more popular indicators widely used by several traders is Bollinger Bands, an indicator that can be used to spot price peaks, lows, and opportunities for shorting during exhausted rallies and buying during sharp pullbacks. Let’s....