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

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Odaily Planet Daily reports that Bitcoin’s monthly Bollinger Bands have reached their narrowest level in history, indicating that a strong price volatility is imminent. Analyst Cantonese Cat states that expansion following Bollinger Band squeezes usually leads to intense market movements. Historical data shows that similar indicators in 2016 and 2020 triggered increases of over 4,400% 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 $80k resistance level to confirm an upward trend. On-chain data indicates significant whale sell pressure in the $78k to $80k range. MC Capital founder Michael van de Poppe says Bitcoin may experience a slight pullback after testing $79k, followed by a potential surge to $86k.

BTC4.28%
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