John Bollinger, a renowned technical analyst, has expressed his opinion on the potential rise of Bitcoin based on his analysis of current market conditions.
Bollinger's Bitcoin Forecast
75-year-old trader John Bollinger, known for his 'Bollinger Bands' indicator, stated that Bitcoin is set for 'an upside breakout.' He shared his view on Twitter, emphasizing positive trends in the market.
Bollinger's Historical Predictions
Earlier in April, Bollinger accurately predicted Bitcoin's drop to $74,434. Just three days after his analysis, Bitcoin began to rally, increasing by 30%. His analysis indicated that the market was forming a classical 'W' bottom, suggesting a possible recovery.
Current Bitcoin Market Situation
At this time, Bitcoin has achieved a record closing price of $109,233. According to recent data, the cryptocurrency is less than 3% away from reaching a new all-time high, highlighting the bulls' confidence in the market.
John Bollinger's forecasts attract interest and attention among traders, although the future can be unpredictable. However, current events in the Bitcoin market showcase its strong position.
