Article | Tibetan Sea Demon ManBitcoin (BTC27111 USD) may experience new upward fluctuations as the price of Bitcoin strongly returns to a critical level, as a classic indicator indicates.John Bollinger, the creator of the Bollinger Line Volatility Index, stated in an X article published on September 18th that Bitcoin is at a breaking point
Article | Tibetan Sea Demon Man
Bitcoin (BTC27111 USD) may experience new upward fluctuations as the price of Bitcoin strongly returns to a critical level, as a classic indicator indicates.
John Bollinger, the creator of the Bollinger Line Volatility Index, stated in an X article published on September 18th that Bitcoin is at a breaking point.
From the Bling Belt, Bitcoin will begin to "rise".
According to data from CointelegraphMarketsPro and TradeView, Bitcoin, after reaching a new high in September the previous day, is currently challenging the unattainable resistance level since mid August.
For the Bollinger Line, the signs from this largest cryptocurrency are encouraging. The Bollinger Line uses the standard deviation near the simple moving average to determine possible price ranges and volatility.
At present, BTC/USD shows candle images touching the Bollinger belt on the rails every day. When this situation occurs, it may indicate an imminent reversal back to the central band, or conversely, indicate upward fluctuations.
The recent emergence of narrow Bollinger lines on Bitcoin has raised hopes that the latter situation will occur.
Blinger commented next to a chart, "After establishing a new set of control bars on the lower track of the Bling belt, the first label appeared on the upper track of the Bling belt
The question now is, can we walk to the Bollinger Belt on the track? It's too early to answer now.
Cointelgraph reported on the narrowing of the band in July - an event that ultimately led to prices returning to lower levels.
Resetting the price of Bitcoin would be quite reasonable.
Blinger is an experienced Bitcoin trader who excels in analyzing the emotional characteristics of the Bitcoin market in a short period of time.
Despite the strengthening of Bitcoin prices so far this week, caution is still spreading due to various trend lines previously supported still above spot prices.
When discussing this situation, the on chain monitoring resource MaterialIndicators told investors to question the momentum of bulls.
Some comments say, "We have serious technical resistance above the critical moving average and support at LL
We are likely to move back and forth within the range, and with luck, we will see a reasonable test of R/S levels, which will give us some clear understanding of the trend of BTC before the end of this week.
Important indicators mention the upcoming Federal Reserve interest rate decision, which may generate volatile and unreliable short-term trading signals.
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