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John Bollinger on Bitcoin Price Action: Positive Divergences Are Developing

  • Alex Dovbnya
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    The BB Squeeze play is on, but John Bollinger claims that there is a need for confirmation before another Bitcoin price move

John Bollinger on Bitcoin Price Action: Positive Divergences Are Developing
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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John Bollinger Warns Crypto Traders About Major Bitcoin Price Move

John Bollinger Warns Crypto Traders About Major Bitcoin Price Move

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.

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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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Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
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    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
Cover image via www.123rf.com

China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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