You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/john-bollinger-analyzes-bitcoins-current-price-movements/" data-wpel-link="internal">John Bollinger Analyzes Bitcoin’s Current Price Movements</a> 
Legendary analyst John Bollinger recently shared his latest observation on the largest cryptocurrency Bitcoin’s (BTC) current price movements from his personal account on the social media platform X. Bollinger, the inventor of the widely used technical analysis tool Bollinger Bands (BB), predicted that Bitcoin would continue to consolidate within its current price range. This prediction came after Bitcoin failed to make a price jump following a two-bar reversal at the lower BB. 
<h2 style="text-align: justify" id="strong-two-bar-reversal-model-jump-prediction-did-not-materialize-strong">Two-Bar Reversal Model Jump Prediction Did Not Materialize</h2> 
On June 25, Bollinger had highlighted that the two-bar reversal model should be sufficient to trigger a price jump. Despite the analyst’s prediction, Bitcoin did not make the expected rise. Although Bollinger suggested that Bitcoin could retest its all-time highs, this expectation did not materialize. The analyst previously described the two-bar reversal model, which he calls “bread and butter” trading, as one of his preferred trading models. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-366315" src="https://coin-turk.com/wp-content/uploads/2024/06/Bitcoin-Analizi.png" alt="" width="995" height="836"> 
According to the analyst, the two-bar reversal becomes ideal when both bars exceed the popular market volatility indicator Average True Range (ATR). For this model to be effective, both bars need to be large-range bars. The first bar should close outside the upper BB, followed by a close inside or vice versa. Bollinger considers this a highly useful strategy for counter-trend trades. 
<h2 style="text-align: justify" id="strong-current-state-of-bitcoin-strong">Current State of Bitcoin</h2> 
During Bollinger’s latest analysis, BTC was priced around $60,800 according to CoinGecko data. Although Bitcoin managed to surpass the $62,000 level earlier in the day, this upward momentum quickly dissipated. The unsustainable nature of this upward movement indicates that the largest cryptocurrency may continue to consolidate rather than make a significant upward breakthrough. 
Given the analyst’s status and the effectiveness of his trading strategies, his views are particularly noteworthy. His analysis of the two-bar reversal model and its current impact on Bitcoin’s price movement offers valuable guidance for investors. The two-bar reversal formation, with its unique criteria and <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">application</a>, remains a central aspect of the analyst’s trading philosophy. 
Bitcoin’s current state reflects the complexity and high volatility of the <a href="https://en.coin-turk.com/south-korean-investors-driving-unpredictable-crypto-market/" data-wpel-link="internal">cryptocurrency market</a> in general. While Bollinger’s predictions provide a valuable framework, the inherent unpredictability of the crypto market shows that investors must remain vigilant and adaptable. The two-bar reversal model strategy outlined by the analyst can be seen as a powerful tool for surviving these <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market conditions</a>. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/john-bollinger-analyzes-bitcoins-current-price-movements/" data-wpel-link="internal">John Bollinger Analyzes Bitcoin’s Current Price Movements</a></h5>

John Bollinger Analyzes Bitcoin’s Current Price Movements

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