John Bollinger, the inventor of the Bollinger Bands indicator, which is used by almost all investors interested in technical analysis, recently bitcoin He shared his comment about it. Bollinger, who reached his followers on Twitter, drew attention to the squeeze in the chart.
According to the share of the famous analyst, the Bitcoin price is about to show a sharp movement in the near future. Although the narrowing in the Bollinger band does not make it possible to comment on the direction of the movement, the rise came in January, when a similar situation was experienced last.
The contraction of the Bollinger Bands indicator with declining volume, in the crypto market “jerk” increased expectations. Investors who want to measure the volatility in the market often use the indicator in question.
Technical analysts interpret that there will be a sharp rise or fall in periods when the band gap designed by John Bollinger narrows.
The leading cryptocurrency $BTC is currently trading at $ 30,530.
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