John Bollinger on Bitcoin Price Action: Positive Divergences Are Developing

Libra Coin News
Thu, 09/12/2019 - 16:34
Alex Dovbnya
The BB Squeeze play is on, but John Bollinger claims that there is a need for confirmation before another Bitcoin price move
Cover image via twitter.com

According to trading legend John Bollinger, who’s famous for creating the Bollinger Bands indicator, the Bitcoin price could soon experience a major uptick.

In his recent tweet, Bollinger points out that Bitcoin and altcoins are caught in the Bollinger Band (BB) Squeeze. This unique trading setup takes place when an asset becomes less volatile.

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As reported by U.Today, this is the most stable because has been since May when its price was hovering above the $7,000 level. Bollinger believes that periods of high volatility always come after periods of low volatility, which means that we might see some fireworks in the short-term.

It is worth noting that traders who rely on the Bollinger Band Squeeze also need another basic trading pattern to confirm a break below the upper or the lower band.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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