Bitcoin monthly Bollinger Bands have reached the narrowest level in history and may experience strong volatility.

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Crypto News, Bitcoin’s monthly Bollinger Bands have reached the narrowest level in history, indicating that a strong price fluctuation is imminent. Analyst Cantonese Cat stated that the expansion after Bollinger Band squeeze usually leads to a sharp market move. Historical data shows that similar indicators in 2016 and 2020 triggered gains of over 4400% and 520%, respectively. Additionally, Bitcoin’s monthly RSI has fallen to its lowest level since the end of 2022, touching the macro bottom support line. Currently, Bitcoin needs to break through the $80,000 resistance level to confirm an upward trend. On-chain data shows significant whale sell pressure in the $78,000 to $80,000 range. MC Capital founder Michael van de Poppe said that Bitcoin might experience a slight pullback after testing $79,000, followed by a potential surge to $86,000.

BTC5.17%
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