Key points:
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Since April, BTC’s price action has rejected the Bringing Band several times.
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The creators of the metric system now see the potential for a full end to the local uptrend.
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The Bitcoin Bull faces multiple headwinds in June.
Bitcoin (BTCOne of the most famous trading names says that the end of the local uptrend after rejection indicates that the end of its local uptrend is $110,000.
exist X Posts On Friday, John Bollinger was known for creating the Bollinger Bands’ volatility measure, known as time in April Lows’ Bitcoin Comeback.
Bolling’s Rejection Points to BTC Price Trouble
Bitcoin shows classic uptrend behavior since Multiple month lows approach $75,000 Brin argued in early April.
Analysts have reviewed BTC’s price action over the past two months, splitting the rebound into three parts.
After the “W” shaped double bottom of the Bollinger band, BTC/USD improved three “push”, each with a brief top and integration phase. Each push also provides a trip to the Upper Bollinger.
Now, the entire local trend may have ended after not maintaining its all-time high and continuing.
“Three pushers have now been confirmed,” Bringer wrote in the accompanying comment.
discuss He stipulated that the data pointed out that the three pushes “only mean the end of previous trends” and that the rejection “can be reversed or consolidated.”
The Brynn Band is The most popular volatility indicators Used to draw trends in Bitcoin and crypto markets. The narrowness of the band is often in the early stages of fluctuations, and BTC/USD often encounters Abnormal “narrow” period In recent years.
Bitcoin Bull Running Obstacles Stack
With Cointelegraph reporting, Bitcoin faces multiple obstacles after rapid gains in May.
Related: $100,000 into chest” Key Level: 5 Things to Know for Bitcoin This Week
In addition to the Bollinger band resistor, the seller also placed it Lots of greeting liquidity Between the current all-time high and $120,000.
Geopolitical events Focusing on the consequences of the Middle East and the US-China trade deal complicates the situation for the bulls.
Trading company QCP Capital warned Telegram Channel subscribers as it discusses crypto and risky assets: “Tensions have now returned to the last in April.”
“The market is trapped in shackles, suddenly hudging with further escalation or sudden downgrade through diplomatic channels.”
QCP acknowledges that Bitcoin, in particular, “still relatively resilient, underscores ongoing institutional demand.”
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
