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<a href="https://coinmarketcap.com/currencies/bitcoin/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> is poised for a “significant” rise amid upcoming intense volatility, according to new analysis.
Julien Bittel, head of macro research at Global Macro Investor, predicted a BTC price of up to $190,000 in a post on X on July 19.
Bittel highlighted the “compressed” Bollinger Bands, a key crypto volatility indicator, suggesting a potential surge in Bitcoin prices.
“Bollinger Bands are crazy tight by historical standards,” Bittel noted.
“Only two other months in history have we seen the weekly Bollinger Bands so compressed: April 2016 and July 2023.”
Bollinger Bands are crucial for assessing crypto volatility and price trend strength. Currently, the gap between the upper and lower bands is exceptionally narrow.
Historically, such compression has led to significant price increases.
“During both of the previous episodes, Bitcoin prices rose significantly over the following twelve months,” Bittel explained.
“A similar move this time around would target Bitcoin within a range of $140,000 to $190,000.”
This is not the first time Bollinger Bands have indicated major BTC price increases.
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In late 2023, their constriction preceded a rise to local highs just before the launch of U.S. spot Bitcoin exchange-traded funds (ETFs).
Bittel has made similar forecasts recently, emphasizing the need for “patience” amid the bull market’s deepest price drawdown.
As of July 19, BTC/USD is trading around $64,000, up 11% over the past week, according to Cointelegraph Markets Pro and TradingView.
While trader confidence is increasing and price metrics suggest the bull market should continue, not everyone is convinced the timing is right.
A lack of mainstream retail investor interest contrasts with the accumulation behavior of institutions and whales.
Popular trader Rekt Capital pointed out that September could be a critical moment for Bitcoin’s recovery.
“If history repeats, a Bitcoin breakout from the Re-Accumulation Range would occur in September 2024,” he told X followers this week.
Overall, while the indicators suggest a potential for significant price gains, the absence of retail investor enthusiasm remains a notable concern.
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Bitcoin Poised for Significant Rise as Volatility Signals Point to Six-Figure Potential

Crypto Intelligence

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