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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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John Bollinger, the inventor of the Bollinger Bands indicator, which is used by almost all investors interested in technical analysis, recently shared his comment about Bitcoin. Bollinger, who reached his followers on Twitter, drew attention to the squeeze in the chart.
According to the share of the famous analyst, the Bitcoin price is about to show a sharp movement in the near future. Although the narrowing in the Bollinger band does not make it possible to comment on the direction of the movement, the rise came in January, when a similar situation was experienced last.
The contraction of the Bollinger Bands indicator along with declining volume has led to an increased expectation of “sudden movement” in the crypto market. Investors who want to measure the volatility in the market often use the indicator in question.
Technical analysts interpret John Bollinger's design for a sharp rise or fall in periods when the band gap narrows. #GateioTurns10# #NewYearCelebration# #GateioBountyCreator# #BountyCreator# #ContentStar# #NewsMessenger# #CryptoObservers# #HotTopicDiscussion# #CryptocresCarnival# #