Whichever way you look at it, this is a crucial point for Bitcoin price.
This ultimately produced a so-called “Bart Simpson” pattern — a spike higher, followed by a plateau and subsequent retracement — only to then break out even higher later on.
“$28.800 acting as a bottom so far. If we can hold here for the next week or so - I see us breaking $30.000 soon after,” Jelle predicted.With volatility returning to BTC/USD in recent days, John Bollinger, creator of the Bollinger bands volatility indicator, meanwhile called for caution.Bitcoin, he noted on the day, had reversed away from its upper Bollinger band, abandoning a breakout beyond it.
“Bitcoin just pulled back to its middle Bollinger Band and its prior breakout level. We call this a logical place. Time to Pay Attention!” he
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