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

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