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Analyst: Bitcoin Bollinger Bands Squeezed to 7.7%, Momentum Building for Upside Breakout
Summary: According to CryptoQuant analyst Axel Adler Jr, the typical Bitcoin Bollinger Bands are currently squeezed, with the range between the upper and lower boundaries reduced to 7.7%, one of the lowest values in the entire bull market cycle. The decrease in volatility indicates that the market is accumulating energy, and prices are ready to rise. ...
According to CryptoQuant analyst Axel Adler Jr, the typical Bitcoin Bollinger Bands are currently squeezed, with the range between the upper and lower boundaries reduced to 7.7%, one of the lowest values in the entire bull market cycle. The decrease in volatility indicates that the market is accumulating energy, and prices are ready to rise. The likelihood of an upside breakout in an uptrend environment is significantly higher. There have been six significant Bollinger Bands squeezes in this bull market cycle. In four instances, an immediate uptrend followed the squeeze, while in the other two cases, there was a slight pullback before continuing to rise. Based on this experience, the current squeeze likely signals another upward surge, although a minor consolidation before the uptrend cannot be ruled out.
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Link: Analyst: Bitcoin Bollinger Bands Squeezed to 7.7%, Momentum Building for Upside Breakout [Copy]
