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John Bollinger Warns Crypto Traders About Major Bitcoin Price Move

  • Alex Dovbnya
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    Trading legend John Bollinger claims cryptocurrency traders should be prepared for a U-turn

John Bollinger Warns Crypto Traders About Major Bitcoin Price Move
Cover image via www.freepik.com
Contents

According to market technician John Bollinger, who is famous for inventing the Bollinger Bands indicator, cryptocurrency traders should be prepared for an important juncture of Bitcoin and top altcoins. In the meantime, the number one coin once again ends up at a crossroads. 

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More volatility?

While Bollinger’s tweet sounds rather cryptic, it is safe to assume that the days of sideways trading are soon inching closer towards an end, and traders should be prepared for a storm. He adds that there is a need for additional confirmation.

As reported by U.Today, Bollinger suggested that the Bitcoin price was “forging” a local bottom in the $9,000-$10,000 range, but he wasn’t certain about major alts.

Shortly after that, Bitcoin once again faced the four-digit reality, but his recent tweet could mean a sizeable upward move.

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Do-or-die

Bitcoin bulls have to orchestrate an imminent recovery as Bitcoin is in serious danger of forming a bearish monthly low close, which would embolden the bears.

Omkar Godbole believes that Bitcoin could tank to $7,400 in the following months if it prints a price below $9,049 on its 1-month chart.

The BTC price has to skyrocket to $10,280 in less than two days for bullish price predictions to be in play.

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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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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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