• Home
  • Contact Us
  • Privacy & Policy
Wednesday, May 25, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Crypto News Bitcoin

Bitcoin Bandwidth: The Biggest Move Of 2021 Is Near

by admin
April 2, 2021
in Bitcoin
0
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter




Bitcoin price is still consolidating below the asset’s current all-time high of $61,800 per coin. The leading cryptocurrency by market cap, however, could be about to make another enormous move.

According to Bollinger Band Width, volatility is about to erupt. In the past, its resulted in substantial moves to the upside. However, these moves have been decreasing in size, increasing the odds for a reversal instead. Here’s a closer look at what the Bollinger Bands technical analysis indicator says about the current price action and what could result once the tranquility breaks.

Bollinger Band Width Warns Of Massive Bitcoin Move, But Which Direction?

Bitcoin price is trading at price right around $60,000, unable to push higher while its altcoin brethren begin to rise past previous 2021 highs. The powerfully trending cryptocurrency has more than doubled in 2021 so far, only one full quarter into the year.

Another enormous move could be coming, however, and one that should have a similar strength as the initial breakout beyond $20,000. That rally, saw an over 134% increase before things turned down, but was followed by not one, but two more bullish impulses.

RELATED READING | TECHNICAL SIGNAL SUGGESTS GOLD IS READY FOR REVENGE AGAINST BITCOIN

Impulse number two was less powerful, but still added more than 88% to the price per coin. The third impulse after a retrace, was even smaller at around 35%.  Between each impulse was a narrowing of the Bollinger Bands, also called a “squeeze.” When things tighten so much, energy is released and volatility picks up. The bands widen as a result.

The Bollinger Bands are now at the tightest they’ve been since $20,000 was taken. A clearer look at how close Bitcoin is to a similar “squeeze” is even more obvious in the Bollinger Band Width indicator at the bottom of the below chart.

bollinger bandwidth bitcoin

A squeeze in the Bollinger Bands to the tightest since $20K could lead to a huge move | Source: BTCUSD on TradingView.com

What Else Do The Bollinger Bands Technical Indicator Say About The Bull Run?

The Bollinger Bands are used to measure volatility as well as a number of other functions. It can spot trend reversals, when trends are strengthening, find support and resistance, and much more. Most trading takes place within the bands, however, when Bitcoin breaks out and closes above it with volume, the cryptocurrency “Rides the Bands” higher.

RELATED READING | BITCOIN WEEKLY MOMENTUM INDICATOR FLIPS BEARISH FOR FIRST TIME SINCE 2020

There are several other strategies related to the tool. Recently, the indicator’s creator, technical legend John Bollinger, warned that the tool might be signaling that Bitcoin was forming a topping pattern called “Three Pushes to a High.”

bitcoin bollinger band three pushes to a high

Could the top cryptocurrency be forming a "Three Pushes to a High" pattern? | Source: BTCUSD on TradingView.com

The potential reversal pattern is classified as having three distinct peaks, both in price action and the %B indicator. Bollinger Band Width also decreases as the trend weakens. Finally, not pictured, the BBTrend tool should turn down for confirmation.

Bollinger, who regularly gives the community a heads up on when “it’s time to pay attention,” says that crypto investors might need to prepare for the potential of a short-term top. It is once again, it seems, time to pay attention.

Featured image from Pixabay, Charts from TradingView.com

Tags: BandwidthbiggestBitcoinmove
  • Trending
  • Comments
  • Latest

A 48-year market vet warns that the Fed will be forced to tighten policy ‘way sooner’ than investors anticipate as inflation continues to soar — triggering a stock market crash of up to 80%

August 28, 2021
27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

August 9, 2021

‘It’s begging to be destroyed’: A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500 — and warns there’s a ‘fair chance’ stocks are about to drop 25%

September 11, 2021

Stocks tanked in the first quarter, and new research shows there should be a reversal by the end of June

April 15, 2022

What Is the Fall in the Stock Market Telling Us?

0

Uber Hacking: Customers Not at Risk of Financial Crime, Says Minister

0

Black Friday Merchants Look to Extend Moment of Retail Optimism

0

Hotshot Snapchat Founders Face a Dilemma: Lie Low or Live Large?

0

What Is the Fall in the Stock Market Telling Us?

May 25, 2022

First Mover Asia: Bitcoin Dominates but Altcoins Lurk

May 24, 2022

Investors May Expect Downside For Bitcoin And Ethereum Market For The Next 3 Months

May 24, 2022

Stellantis CEO warns of electric vehicle battery scarcity, followed by lack of raw materials

May 24, 2022

Recent News

What Is the Fall in the Stock Market Telling Us?

May 25, 2022

First Mover Asia: Bitcoin Dominates but Altcoins Lurk

May 24, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.