Spot Ethereum ETFIncreased approval probability of currencies, especially Ethereum Bitcoin and it also moved the price of altcoins.
With the impact of ETF news ETH While reaching the level of $ 3,700, BTC It rose again to over $70,000.
While these increases pleased investors, one analyst warned of an impending pullback in BTC price.
A well-known analyst and inventor of Bollinger Bands John Bollinger stated in his post from his X account that there may be a short-term retreat and consolidation in the BTC price.
The analyst, who made this analysis according to the technical tool Bollinger Bands, of which he was the inventor, BTC/USD He argued that a two-bar reversal occurred in the upper Bollinger Band on the chart.
The analyst points out that consolidation or a possible pullback in the Bitcoin price will be short-term and that there is no downward trend in BTC. told.
“I don’t really like the two-bar retracement in the upper Bollinger Band for BTC/USD.
It suggests a consolidation or pullback.
But there is no bearish trend here, just a short-term pullback or consolidation.”
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!