Opinion: Bitcoin technical indicators have fallen into extreme lows, with this occurring seven times in history, and the market rose after six of them.
BlockBeats News, January 23, the founder of the crypto analytics platform BecauseBitcoin, @MaxBecauseBTC, posted that bitcoin's 3-day Bollinger Bands are highly compressed, indicating extremely low volatility. This has only happened 8 times since 2015 (including the current instance), and 6 out of the previous 7 times resulted in an upward breakout.
Combining the Bollinger Band width and the logarithmic MACD indicator, @MaxBecauseBTC emphasized that the current market downturn is about to end.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Stellar Community Fund Kicks Off Growth Hack Cohort Focused on Real-World Adoption
COTI Integrates Midnight Network as NIGHT Token Goes Live
The total net inflow for the US Solana spot ETF in a single day was $2.46 million.
Data: US XRP Spot ETF sees single-day net inflow of $7.76 million
Trending news
MoreCrypto prices
More
