Bitcoin

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<p>Trading maverick John Bollinger, the brains behind the widely-used Bollinger Bands, took a moment to <a href="https://twitter.com/bbands/status/1732561672362230075" rel="noopener noreferrer nofollow">ponder</a> over his latest Bitcoin commentary on the X social media network.&nbsp;</p>
<p>"When one makes a comment like the one I did yesterday, one must always consider the possibility that one has marked THE TOP. This is what makes life interesting," the legendary chartist said.&nbsp;</p>
<h2 id="predicting-a-bitcoin-breakout">Predicting a Bitcoin breakout&nbsp;</h2>
<p>On Wednesday, Bollinger <a href="https://u.today/legendary-trader-john-bolllinger-shares-his-take-on-bitcoin-btc-price-action" rel="noopener noreferrer nofollow">noted</a> that the flagship cryptocurrency was demonstrating significant strength due to a two-bar reversal at the middle Bollinger Band on Nov. 21</p>
<p>This observation comes at a time when Bitcoin is making headlines by consistently setting new peaks for the year 2023.&nbsp;</p>
<p>Bollinger's expertise, particularly his creation of the Bollinger Bands, a key volatility measuring tool, adds significant weight to his analysis. These bands, which are comprised of a moving average and two standard deviation levels, suggest a strong market trend when an asset like Bitcoin trades outside of them.</p>
<p>In September, the famous trader correctly <a href="https://u.today/trading-legend-john-bollinger-indicates-potential-surge-for-bitcoin" rel="noopener noreferrer nofollow">predicted</a> an upper-band breakout.&nbsp;</p>
<h2 id="cooling-off">Cooling off &nbsp; &nbsp;</h2>
<p>After the recent surge, Bitcoin's market shows signs of stabilizing around the $44,000 mark.&nbsp;</p>
<p>Interestingly, it has not yet entered the "Extreme Greed" territory, often linked with market peaks.&nbsp;</p>
<p>The current sentiment analysis places the market in a "Greed" state, with <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer nofollow">scores</a> consistently in the 70s. For now, traders and investors remain cautiously optimistic. &nbsp;</p>

Legendary Trader John Bollinger Throws Cold Water on Bullish Bitcoin (BTC) Price Analysis

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