Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/john-bollinger-predicts-bitcoins-price-path" data-wpel-link="internal" rel="noopener noreferrer nofollow">John Bollinger Predicts Bitcoin’s Price Path</a><br></p>
<p style="text-align: justify">In a recent update, renowned analyst John Bollinger shared his insights on <a href="https://en.bitcoinhaber.net/analyst-from-fidelity-projects-bitcoin-gaining-ground-over-gold-as-preferred-investment" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s (BTC) current price trends via his social media platform X account. Bollinger, known for creating the well-regarded Bollinger Bands (BB) <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">technical analysis</a> tool, suggested that Bitcoin would remain within its existing price range. This forecast came after Bitcoin did not experience a price surge following a two-bar reversal at the lower BB, contrary to Bollinger’s expectations.</p>
<h2 id="did-two-bar-reversal-miss-the-mark">Did Two-Bar Reversal Miss the Mark?</h2>
<p style="text-align: justify">On June 25, Bollinger mentioned that the two-bar reversal model should have been strong enough to trigger a significant price increase. Despite this, Bitcoin did not achieve the anticipated rise. Although he had suggested the possibility of Bitcoin retesting its all-time highs, this did not occur. Bollinger had previously touted the two-bar reversal model as one of his go-to trading strategies, dubbing it a “bread and butter” approach.</p>
<p style="text-align: justify">The analyst elaborated that the two-bar reversal model is most effective when both bars exceed the popular market volatility indicator, Average True Range (ATR). For optimal results, both bars need to be of a large range, with the first bar closing outside the upper BB, followed by a close inside or vice versa. Bollinger views this as a highly effective method for counter-trend trades.</p>
<h2 id="what-is-the-current-bitcoin-scenario">What is the Current Bitcoin Scenario?</h2>
<p style="text-align: justify">In his latest analysis, Bollinger noted that Bitcoin was priced around $60,800, according to CoinGecko data. Although Bitcoin briefly surpassed the $62,000 level earlier in the day, this upward momentum did not last. This fleeting rise indicates that Bitcoin may continue to consolidate rather than make a substantial upward move. Bollinger’s reputation and effective trading strategies make his views particularly significant for investors.</p>
<h2 id="actionable-insights-for-investors">Actionable Insights for Investors</h2>
<ul>
 <li>Monitor Bitcoin’s price movements closely, especially within the current range.</li>
 <li>Consider utilizing the two-bar reversal model for counter-trend trading opportunities.</li>
 <li>Be cautious with expectations of rapid price surges and prepare for possible consolidations.</li>
 <li>Watch for market volatility indicators such as the Average True Range (ATR) to gauge trade entries effectively.</li>
</ul>
<p style="text-align: justify">Bollinger’s assessment of the two-bar reversal model and its influence on Bitcoin’s price provides valuable insights for investors. The unique criteria and <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">application</a> of this model make it a crucial element of Bollinger’s trading philosophy, offering a powerful tool for navigating the unpredictable cryptocurrency market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/john-bollinger-predicts-bitcoins-price-path" data-wpel-link="internal" rel="noopener noreferrer nofollow">John Bollinger Predicts Bitcoin’s Price Path</a></h5>

John Bollinger Predicts Bitcoin’s Price Path

Table of Contents

BH NEWS

Další články publikované 29. 6. 2024

Coinbase and Stripe Partner for Global USDC Adoption

US Treasury Issues New Crypto Tax Reporting Rules for Crypto Brokers

Catizen Reaches Milestones in Gaming Platform Development

Phishing Scams Target TON Users

Bitcoin ETF Records 4-Day Streak As BlackRock Boosts With $82M Influx

Hong Kong’s Securities and Futures Commission flags unregistered VATPs

Join our free newsletter for daily crypto updates!