As Bitcoin’s price hovers around the $60,000 mark, the cryptocurrency market remains tense. Recent fluctuations have kept traders and enthusiasts on edge, with the market now entering a quieter phase after a series of dramatic price actions.
Amid this backdrop, legendary trader John Bollinger, known for creating the Bollinger Bands indicator, has shared his perspective on Bitcoin’s price movements.
Bollinger highlighted a two-bar reversal pattern near the lower Bollinger Band, suggesting a potential bounce.
He believes this pattern has formed logically and could signal a test of previous highs.
On the Bitcoin chart Bollinger referenced, a clear reversal near the lower band can be seen.
If his prediction holds, Bitcoin might reach the upper band, which currently sits at around $72,000. This is close to Bitcoin’s all-time high, set earlier this year.
