Bitcoin tests Bollinger Bands breakout as creator flips bullish on BTC
The story
A related MVRV indicator hit overheated levels last seen before bitcoin's late-2024 push to $100,000.
From the source
John Bollinger, who developed the indicator in the 1980s, said in an X post that one of his investment fund s proprietary trading models had flipped positive on bitcoin and taken a position accordingly.
Bollinger bands are volatility bands that sit two standard deviations above and below the 20-day moving average of a token s price. A wider gap between the two bands indicates volatile conditions, while a tighter band indicates calm.
A break above the upper band traditionally signals strong upward momentum, especially after a period of compression.
Who and what
Key names and topics in this story: Bitcoin, Bollinger Bands.
Where to follow next
- Read the full piece at www.coindesk.com
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