- Famous trader John Bollinger comments the market in his new analysis. Veteran trader John Bollinger stated that Bitcoin (BTC) has a “perfect” double bottom. The critical indicator also predicted the last sharp rise of BTC, according to John Bollinger.
Experienced trader John Bollinger: Bitcoin (BTC) is “perfect” double bottom!
Successful trader John Bollinger commented on the predictive power of his indicator, which he said predicted the latest uptrend in Bitcoin, long before Elon Musk visited Twitter in his last tweet. John Bollinger said on the subject:
BOLLINGER BANDS LOOK LIKE EMOTIONS. THEY PUT THE BITCOIN A PERFECT BOTTOM, AFTER IT HAS BEEN DEFEATED TIMES BY DISPOSABLE PEOPLE IN EXILE.
The Bollinger Bands trading indicator is useful for detecting W-bottoms before uptrends and M-balls before downtrends. Except for the lower band of $ 28.791, the lowest level on January 21, $ 29.104, the lowest level of January 27, is practically within the lower band.
Bollinger Bands predicted the latest rise in Bitcoin
Usually such a formation indicates that a strong uptrend is approaching, according to the analyst, and this happened exactly on January 29th. Tesla CEO Elon Musk added Bitcoin to his biography, leading to a strong rise that allowed Bitcoin to hit the weekly high of $ 38,620.
The stock market is currently facing a strong sell-off. During this trading session, BTC dropped below $ 30,000 after the Dow fell more than 600 points. Weakened by this stock market crash, Bitcoin fell hard from the peak recorded by the recent “Elon Musk pump”.
Many of John Bollinger’s Bitcoin predictions have been quite successful in recent years.
In particular, many of John Bollinger’s Bitcoin predictions have been quite successful in recent years. So market participants pay close attention to the analyst’s words. In April, the analyst commented before the bitcoin price jumped by 40 percent, creating the model that the leading cryptocurrency analyst outlined. At the beginning of June, John Bollinger urged investors to be “cautious or short” after the price rose to $ 10,400, and he predicted this correctly.