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<a href="https://u.today/bitcoin-news" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> continues its wild ride that started in autumn and continues into winter, with December seeing the price of the major cryptocurrency lose as much as 3.5% in just two days, per<a href="https://www.tradingview.com/x/o5MtvOzS" rel="noopener noreferrer nofollow">TradingView</a>. While the price of BTC seems to stabilize at around $87,000, the environment — and, more importantly, the chart structure — does not look stable at all.
This fragility is particularly evident in the Bollinger Bands, a popular indicator developed by veteran trader John Bollinger.
For those not familiar, the bands represent a trading range for the asset, built from a 20-day moving average and two standard deviations on both sides. Seasoned market participants use the indicator to understand what market momentum the asset — Bitcoin in this case — currently sits at and what bias prevails. <img src="https://u.today/sites/default/files/inline-images/image_3387.png" alt="&quot;&quot;">
Looking at the<a href="https://u.today/ive-got-good-stuff-tonight-about-where-bitcoin-can-hold-jim-cramer" rel="noopener noreferrer nofollow">price of BTC</a> on the monthly time frame perfectly characterizes why the cryptocurrency seems so fragile in its current setup, extreme fear aside. The month opened for Bitcoin with a nasty red candle that erased all the late-November gains, pushed the price under the middle band and immediately switched the mode to a bearish one.
<h2 id="bitcoin-to-52-000-bad-dream-no-more">Bitcoin to $52,000: Bad dream no more</h2>
In this case, it is now more probable for BTC to hit the lower band — at $52,000 right now — a scenario that implies a 40% crash from the current $87,000 price tag.
If one were to defy this option for<a href="https://u.today/morning-crypto-report-169-trillion-franklin-templeton-boosts-xrp-and-cardano-ada-1-million-btc" rel="noopener noreferrer nofollow">Bitcoin</a>, it might be said that the current dip below the midband is nothing more than manipulation, but for this thesis to prove correct, the price would need to flip back above $88,890 per BTC and stay there for at least a week.
Until this happens, it is bear mode for Bitcoin, with hitting $52,000 as the prime scenario. <a href="https://u.today/bitcoin-on-the-verge-of-40-crash-bollinger-bands-warn" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Bitcoin on the Verge of 40% Crash, Bollinger Bands Warn

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