Legendary Analyst John Bollinger Foresees New Bitcoin Upsurge

Legendary technical analyst John Bollinger has added another call to his occasional Bitcoin predictions. Bollinger draws attention to an uptrend formation observed on Bitcoin’s price chart. John Bollinger Predicts Incoming Bitcoin Upsurge For those less familiar with Bollinger Bands, they are essentially three sets of lines drawn on a price chart. The middle band is typically a 20-period simple moving average, and the upper and lower bands are drawn two standard deviations away from the middle band. Bands expand or contract with volatility. They expand when there is market volatility, and narrow when volatility is low. Bollinger’s tweet suggests that Bitcoin, priced at $30,200 at the time of writing, is currently finding support at the middle band. Historically, this has indicated a potential upswing may be approaching. Bollinger’s formation starts with an “explosion”, an aggressive price increase that culminates in “ripping the upper band”, signaling strong uptrend momentum. This is […] The post Legendary Analyst John Bollinger Foresees New Bitcoin Upsurge appeared first on COINTURK NEWS.