According to Jinse Finance, the Bollinger Bands of BTC have recently narrowed to the lowest level in history, indicating that the market is about to experience significant price fluctuations. Technical analyst Tony Severino pointed out that this phenomenon of ‘Bollinger Band contraction’ usually accompanies significant price changes, which has led to many bull markets in history.
For example, after the Bollinger Bands contracted in April 2016 and July 2023, the price of BTC both experienced significant pump. However, the contraction does not indicate the specific direction of the price, which may result in a substantial pump or decline in price.
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Analysis: The Bollinger Bands of BTC have recently narrowed to the lowest level in history
According to Jinse Finance, the Bollinger Bands of BTC have recently narrowed to the lowest level in history, indicating that the market is about to experience significant price fluctuations. Technical analyst Tony Severino pointed out that this phenomenon of ‘Bollinger Band contraction’ usually accompanies significant price changes, which has led to many bull markets in history. For example, after the Bollinger Bands contracted in April 2016 and July 2023, the price of BTC both experienced significant pump. However, the contraction does not indicate the specific direction of the price, which may result in a substantial pump or decline in price.