Key Points:
The Bitcoin Bollinger Bands indicator shows that BTC price is expected to break through $110,000.
Bitcoin is likely to set a new historical high in July due to multiple favorable factors.
According to classic technical analysis indicators, as BTC price holds key levels, Bitcoin (BTC) may experience further upward fluctuations.
Cryptocurrency YouTuber Crypto Rover stated in a post on X on Sunday that based on Bollinger Band analysis, Bitcoin is ready for an upward breakout.
Bollinger Bands are a Bitcoin indicator used by traders to assess momentum and volatility within a specific range, and they have reached their tightest point in 12 months, indicating that significant price fluctuations may be underway or imminent.
The chart shared by Crypto Rover shows that Bitcoin's Bollinger Bands are "more compressed" in the three-day timeframe than since February 2024.
During the period from February to March 2024, Bitcoin surged about 75% after breaking through the upper boundary of the Bollinger Bands, reaching a previous historical high of $74,000.
According to data from Cointelegraph Markets Pro and TradingView, if history repeats itself, Bitcoin's current price of $108,900 could quickly turn into a new historical high of $190,000.
In accompanying comments, Crypto Rover stated:
He is not the only trader noticing this emerging pattern.
"Bollinger Bands are tighter than they have been in over a year," crypto analyst Cantonese Cat noted, adding, "Greater volatility is coming."
"The BTC Bollinger Bands are quite compressed—currently around yearly lows at a 9.4% price range," crypto market commentator Frank Fetter wrote in a post on X.
The $BTC Bollinger Bands are pretty compressed — currently around yearly lows at a 9.4% price range. When vol? pic.twitter.com/H69SWOZD9x
John Bollinger, the creator of the Bollinger Bands volatility indicator, previously stated that Bitcoin has been repeatedly rejected at the upper boundary of this indicator near $110,000, which may signal a local top.
However, the creator of the indicator is now bullish again. Bollinger stated in a post on X on Sunday:
As Cointelegraph has continuously reported, despite facing resistance at $110,000, multiple factors place Bitcoin in a favorable position for further increases.
In addition to ongoing institutional demand through spot Bitcoin ETFs and balance sheet companies, the significant cup-and-handle pattern of BTC on higher timeframes suggests a breakout to as high as $230,000.
The impending U.S. tariff deadline and the upcoming "Cryptocurrency Week" in Washington, D.C. may unleash bullish risk appetite.
Meanwhile, according to CryptoQuant data, Bitcoin's market value has achieved an "MVRV" ratio—an on-chain metric used to assess whether Bitcoin's price is overvalued or undervalued—of 2.23, above its 365-day simple moving average (SMA365) of 2.15.
"Historically, as long as MVRV remains above its SMA365, the upward trend tends to continue," CryptoQuant analyst Burakkesmeci explained in a QuickTake analysis, adding:
As Cointelegraph reported, the ongoing expansion of the global money supply (M2) is another potential catalyst for Bitcoin to reach $170,000 in the coming months.
This article does not contain investment advice or recommendations. Every investment and trading activity involves risk, and readers should conduct their own research when making decisions.
Original article: “Bitcoin (BTC) Bollinger Bands Reach Critical Point, 'Upside Breakout' Imminent”
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