Bollinger Squeeze
It has declined due to geopolitical risks
Cryptocurrency analyst Max noted that there is a “Bollinger Squeeze” on Bitcoin's weekly time frame.
“What does it mean that Bollinger Bands are so tight? It means that big moves are coming soon.” The analyst said, and quoted similar instances in the past from 2016/4 and 2023/8.
The center band of Bitcoin's weekly timeframe has only been tightened twice so far... it was April 2016 and August 2023!
What do you mean When the Bollinger Bands tighten like this, a big move immediately takes place.
The $BTC bull market began in April 2016, and August was... pic.Twitter.com/ knfr0l10qL
— Max (@MaxBecauseBTC) August 1, 2024
Another trader, Micro2Macr0, said, “We anticipated King Crypto's fall in the $61,000-$62,500 range. However, he said, “I am prepared to buy more and more.” I'm talking about it.
#Bitcoin $BTC could completely fall towards the $61,000-$62,500 range.
I'm ready to buy.
Are you ready? pic.Twitter.com /n88r7d4ppk
“What does it mean that Bollinger Bands are so tight? It means that big moves are coming soon.” The analyst said, and quoted similar instances in the past from 2016/4 and 2023/8.
The center band of Bitcoin's weekly timeframe has only been tightened twice so far... it was April 2016 and August 2023!
What do you mean When the Bollinger Bands tighten like this, a big move immediately takes place.
The $BTC bull market began in April 2016, and August was... pic.Twitter.com/ knfr0l10qL
— Max (@MaxBecauseBTC) August 1, 2024
Another trader, Micro2Macr0, said, “We anticipated King Crypto's fall in the $61,000-$62,500 range. However, he said, “I am prepared to buy more and more.” I'm talking about it.
#Bitcoin $BTC could completely fall towards the $61,000-$62,500 range.
I'm ready to buy.
Are you ready? pic.Twitter.com /n88r7d4ppk
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