Creator of Bitcoin Bollinger Bands Creator Setting up BTC Price for ‘Upside Breakout’
Key Takeaways:
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Bitcoin’s bollinger indicator now sees the potential for BTC price breakout of over $ 110,000.
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Bitcoin’s eyes were new all-time highs in July due to many tailwinds.
Bitcoin (Btc) Additional opposite volatility can be seen because the BTC price holds basic levels, according to a classic technical technical analysis.
Bollinger Bands: The price of BTC is close to Breakout
In a post of July 6 on X, Crypto YouTuber Crypto Rover Says That bitcoin is positioned for an upward breakout based on Bollinger Bands Review.
Bollinger bands, a Bitcoin indicator used by merchants to assess momentum and volatility within a certain range, reached its tight point in 12 months, which signed that a significant price movement could be carried out or nearby.
Crypto Rover shares a chart showing that Bitcoin Bollinger bands have been “lighter than have been” since February 2024 throughout the three days.
Related: ‘Wrong Move’ to $ 105k? 5 things to know in bitcoin this week
Bitcoin moved about 75% between February and March 2024 to this Previous all-time highs of $ 74,000After breaking above the upper border of bollinger bands.
If history is repeated, the current bitcoin price of $ 108,900 can quickly become a new full time of $ 190,000, according to data from Cointelegraph Markets Pro and Tradingview.
In a companion comment, Crypto Rover said:
“Big pump inmoming!”
He is not the only businessman to see the emerging pattern.
“Bollinger band lighter than more than a year,” Says The crypto analyst Cantonese cat, adding, “larger move.”
“The $ BTC Bollinger Bands is quite compressed – currently around the annual lows at a 9.4% price range,” Crypto Markets commentator Frank Fetter wrote in an X post.
The $ Btc Bollinger bands are relatively compressed – currently around the annual lows at a 9.4% price range. When is vol? pic.twitter.com/h69swozd9x
– Frank (@frankofets) June 30, 2025
John Bollinger, the creator of the Bollinger Bands Volatility Indicator, was previously Says Bitcoin’s multiple decline from the upper border of the indicator around $ 110,000 can mark a local top.
But the indicator creator is now bullish again. In a post of July 6 on X, bollinger Says:
“Bitcoin looks like to set up for an inverted breakout.”
Multiple metrics: Bitcoin “Bull Trend is whole”
As cointelegraph continues to report, many factors put bitcoin in a good position for more upside down Despite hitting a resistance to $ 110,000.
In addition to the ongoing institutional demand by Spot bitcoin etf and Treasury companiesGiant cup-and-handle BTC pattern in higher timeframes Projects of a breakout up to a high $ 230,000.
Moaning US tariff deadlines with the upcoming “Crypto Week” in Washington DC Can unlock the risk of appetite in bulls.
Meanwhile, the Bitcoin market value realized the value of “MVRV”, a onchain metric used to assess whether the price of Bitcoin was over or not measured, was at 2.23, above the 365-day simple transfer of average (SMA365) to 2.15, per data from the cryptoquant.
“History, as long as the MVRV remains above SMA365, the uptrend tends to continue,” explained cryptoquant analyst Burakkesmeci in a quicktake AssessmentAdding:
“The bull’s pace is whole.”
As cointelegraph reportedThe ongoing expansion of the Global Money Supply (M2) serves as another potential catalyst for Bitcoin to reach $ 170,000 in the coming months.
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.
