Bitcoin (Btc) shows familiar “bottom” behavior at current prices, according to one of the known leading indicators.
In a X post On April 10, John Bollinger, creator of the Bollinger Bands Volatility Metric, revealed the good news of the development for the Bitcoin Bulls.
Bollinger bands %b metric teases btc price comeback
Bitcoin may establish a long -term bottom, the latest Bollinger bands Data suggests.
Examining weekly timeframes, Bollinger himself drew one of his prophecy indicators, known as “%B,” which offers additional clues about returning markets.
%B measured the closure of the price of an asset associated with the position of the bollinger band, which uses the standard deviation around a 20-period simple moving average (SMA).
Among its views is the “W” under formation, where a first low under zero is followed by a higher low retest later – something that can play for BTC/USD.
Bollinger confirmed to followers of X:
“Classic bollinger band w Bottom setting up to $ btcusd. Sill needs confirmation.”
BTC/USD 1-week chart with Bollinger Bands data. Source: John Bollinger/X.
In both weekly and sunny timeframes, Bollinger bands show the uninterrupted trend shift that occurred.
Data from Cointelegraph Markets Pro and Tradingview It is shown that the day -to -day chart continues to walk through the lower band, with the central SMA acting as a resistance.
BTC/USD 1-day chart with Bollinger Bands data. Source: Cointelegraph/TradingView
The stock in stocks, which BTC/USD has become an increase in correlated, Jurrien Timmer, director of Global MacRO in Fidelity Investments, has drawn similar conclusions.
“Re-reviewing the bollinger bands, we lost from 2 common deviations above-trend to on-trend to this day almost 2 common deviations below-trend,” he he he he mentioned About S&P 500 on April 9.
“Again, oversold but not in a historical extreme.”
Bitcoin Bounce can follow 10% NASDAQ plunge
Number Cointelegraph continues to reportTargets under the price of BTC rising in the middle of the $ 70,000 mark.
Related: Bitcoin, stocks are Shun CPI Print Win and give up the tariff tariff gains – will BTC whales save?
That level is significant for many reasons, including a psychological barrier and its status as a liquidity magnet.
Network economist Timothy Peterson, who is the lowest metrics forward in price previously offered 95% odds That $ 69,000 will remain intact as support, now seeing the return of Bitcoin after finding their own floor.
“Bitcoin led Nasdaq to this decline. As the asset noticed at the top of the risky pyramid, I first expect Nasdaq, and then Bitcoin. revealed This week.
“But I think Nasdaq has another -10% fall.”
Comparison with Bitcoin compared to NASDAQ. Source: Timothy Peterson/X.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
