Bitcoin ‘explosive move’ looms as Bollinger Bands reach tightest points
A key Bitcoin trading indicator has hit its “tightest point” in a year. The last time it happened, Bitcoin pumped 20% in four months.
A Bitcoin indicator used by traders to assess volatility has reached its “tightest point” in 12 months in a signal that a significant price move may be underway.
“A move is almost imminent,” crypto trader and analyst Matthew Hyland said in an analysis video on July 31 while noting that Bitcoin’s (BTC) Bollinger Bands — a tool that measures the momentum and volatility of an asset within a certain range — has reached its third highest point “in its entire history” across weekly time frames since its inception in January 2009.
He wasn’t the only trader to spot the emerging pattern.
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Author: Ciaran Lyons
