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<ul>
 <li>Analyst John Bollinger identifies a bullish two-bar reversal pattern near Bitcoin’s lower Bollinger Band.</li>
 <li>If the pattern holds, Bitcoin could bounce and test previous highs around $72,000.</li>
 <li>Watch $62,140 pivot point and resistance levels at $63,440 and $64,510.</li>
</ul>
<p>As Bitcoin’s price hovers above $60,000, analysts are closely monitoring its movements. Among them, <a href="https://twitter.com/bbands?lang=en" rel="noopener noreferrer nofollow">John </a><a href="https://twitter.com/bbands?lang=en" target="_blank" rel="noopener noreferrer nofollow">Bollinger</a> has shared his insights, shedding light on potential trends.</p>
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   <p lang="en" dir="ltr">No bounce after a Two-Bar Reversal at the lower Bollinger Band, more consolidation expected. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://t.co/vIH2wo4CsJ" rel="noopener noreferrer nofollow">https://t.co/vIH2wo4CsJ</a></p>— John Bollinger (@bbands) <a href="https://twitter.com/bbands/status/1806717344091382264?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 28, 2024</a>
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<p>Bollinger, the creator of the Bollinger Bands indicator, recently pointed out a two-bar reversal pattern on Bitcoin’s price chart. This pattern appeared near the lower <a href="https://www.bollingerbands.com/" target="_blank" rel="noopener noreferrer nofollow">Bollinger</a><a href="https://www.bollingerbands.com/" rel="noopener noreferrer nofollow"> Band</a>, suggesting an imminent bounce.&nbsp;</p>
<p>He stated that it is a lovely two-bar reversal at the lower Bollinger Band that occurred at a logical place. Using a price chart to illustrate his analysis, Bollinger described how the two-day candlestick reversal near the lower band could result in a significant price increase.&nbsp;</p>
<p>If this anticipated reversal comes to fruition, <a href="https://cryptonewsland.com/parabolic-btc-surge-imminent-as-bitcoin-enters-the-dramatic-banana-zone-new-ath-soon/" rel="noopener noreferrer nofollow">Bitcoin’s value could rise </a><a href="https://cryptonewsland.com/parabolic-btc-surge-imminent-as-bitcoin-enters-the-dramatic-banana-zone-new-ath-soon/" target="_blank" rel="noopener noreferrer nofollow">substantially</a>, potentially reaching around $72,000. Traders are now discussing Bollinger’s insights, injecting a layer of optimism into the cautious market sentiment.&nbsp;</p>
<h2 class="wp-block-heading" id="h-technical-analysis-nbsp">Technical Analysis&nbsp;</h2>
<p>Bitcoin’s 4-hour chart indicates a pivot point at $62,140, which could determine the market direction. Immediate resistance levels are at $63,440, followed by $64,510 and $65,710.&nbsp;</p>
<p>On the downside, support stands at $60,620, with further levels at $59,670 and $58,630. The Relative Strength Index (RSI) currently sits at 48, indicating neutral market conditions.&nbsp;</p>
<p>Bitcoin remains bearish below the $62,140 pivot point. A break above this level could shift the bias toward <a href="https://cryptonewsland.com/btc-whale-buys-961m-worth-of-bitcoin-amidst-market-dip/" rel="noopener noreferrer nofollow">bullish </a><a href="https://cryptonewsland.com/btc-whale-buys-961m-worth-of-bitcoin-amidst-market-dip/" target="_blank" rel="noopener noreferrer nofollow">momentum</a>, while staying below may trigger further selling pressure.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitcoins-bollinger-bands-tighten-to-extreme-conditions/" rel="noopener noreferrer nofollow">Bitcoin’s Bollinger Bands Tighten to Extreme Conditions: A Historic Low</a></li>
 <li><a href="https://cryptonewsland.com/industry-leaders-throw-weight-behind-nftfn-as-it-crushes-presale-milestone/" rel="noopener noreferrer nofollow">Industry Leaders Throw Weight Behind NFTFN as It Crushes Presale Milestone</a></li>
 <li><a href="https://cryptonewsland.com/iota-2-0-pivoting-to-dags-spells-the-end-of-blockchain-woes/" rel="noopener noreferrer nofollow">IOTA 2.0 Pivoting to DAGs, Spells the End of Blockchain Woes</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inu-set-for-almost-500-surge-bulls-eye-0-00004-breakout/" rel="noopener noreferrer nofollow">Shiba Inu Set for Almost 500% Surge: Bulls Eye $0.00004 Breakout</a></li>
 <li><a href="https://cryptonewsland.com/why-ripples-2024-outlook-is-exciting-pivoting-from-xrp-sales-to-stablecoin-innovations-and-ipo/" rel="noopener noreferrer nofollow">Why Ripple’s 2024 Outlook Is Exciting: Pivoting from XRP Sales to Stablecoin Innovations and IPO</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/popular-crypto-analyst-projects-bitcoins-price-trajectory-major-pivot-ahead/" rel="noopener noreferrer nofollow">Popular Crypto Analyst Projects Bitcoin’s Price Trajectory, Major Pivot Ahead</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Popular Crypto Analyst Projects Bitcoin’s Price Trajectory, Major Pivot Ahead

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