{"id":542925,"date":"2023-07-17T11:30:29","date_gmt":"2023-07-17T11:30:29","guid":{"rendered":"https:\/\/wncen.com\/?p=542925"},"modified":"2024-06-11T06:51:39","modified_gmt":"2024-06-11T06:51:39","slug":"big-bitcoin-move-ahead-bollinger-bands-see-extreme-squeeze","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/big-bitcoin-move-ahead-bollinger-bands-see-extreme-squeeze\/","title":{"rendered":"Big Bitcoin Move Ahead: Bollinger Bands See Extreme Squeeze"},"content":{"rendered":"

Since the Bitcoin price reached a new yearly high of $31,840 last week, only to invalidate the bullish breakout within a few hours and fall towards $30,000, there has been a strange tranquility in the market. Already since June 23, BTC has been in the trading range between $29,800 and $31,300, with every breakout attempt to the upside and downside having failed within a very short period of time.<\/p>\n

However, one of the most prominent technical indicators, the Bollinger Bands, predict that this calm may soon be over. Created by the esteemed trader John Bollinger, these bands provide invaluable insights into market volatility and potential price levels.<\/p>\n

Bollinger Bands Predict Big Move For Bitcoin<\/h2>\n

The Bollinger Bands consist of three distinct lines on a price chart: the middle band, the upper band, and the lower band. The middle band is a simple moving average (SMA) that represents the average price over a specified period. The upper and lower bands are derived from the middle band, with the upper band usually set two standard deviations above the SMA, and the lower band set two standard deviations below it.<\/p>\n

Related Reading: $18 Billion Worth Of Bitcoin Accumulated At $30,200 \u2013 BTC Bull Run Incoming?<\/a><\/div>\n

The primary purpose of the Bollinger Bands is to measure market volatility. When the price of an asset experiences significant fluctuations, the bands widen, indicating increased volatility. Conversely, during periods of reduced price movement, the bands contract, indicating lower volatility. This contraction is commonly referred to as a “squeeze,” where the upper and lower bands come closer together, forming a narrowing price channel.<\/p>\n

When the Bollinger Bands squeeze, the potential for a significant price movement looms. The squeeze suggests that the market is in a state of temporary equilibrium, akin to a coiled spring ready to release its stored energy. The direction of the breakout determines whether it’s a bullish or bearish signal.<\/p>\n

Up Or Down?<\/h2>\n

Glassnode, a respected on-chain data provider, highlighted today the current state of the Bitcoin market, noting<\/a> a remarkably low volatility environment. The 20-day Bollinger Bands are experiencing an extreme squeeze, with a mere 4.2% price range separating the upper and lower bands. This suggests that Bitcoin is currently in a period of limited price movement, \u201cmaking this the quietest Bitcoin market since the lull in early January.\u201d<\/p>\n

\"Bitcoin
20-day Bitcoin Bollinger Bands | Source: Twitter @glassnode<\/figcaption><\/figure>\n

As Bitcoin investors may remember, the Bollinger Bands squeeze in January marked the end of a lengthy downtrend. After the FTX collapse, the BTC market was in a state of shock paralysis, which was ultimately resolved by Bollinger Bands squeeze, leading to a 42% price increase in 26 days.<\/p>\n

Related Reading: Perfect Storm: Why Bitcoin & Crypto Are Poised For A Dramatic Recovery<\/a><\/div>\n

The Bollinger Bands’ squeeze, combined with diminishing trading volumes, creates a scenario of mounting pressure in the Bitcoin market. As trading volume declines, the potential energy stored in this coiled spring intensifies.<\/p>\n

According to the analysts at CryptoCon, the bullish scenario is the one to be favored<\/a> at the moment. “When Bitcoin volatility gets low in a bear market, it’s very bearish. When volatility gets low in a bull market, it’s insanely bullish,” the analysts say. As Bitcoin is unanimously seen to be at the start of a new bull market, a strong move to the upside could be in store.<\/p>\n

\"Bitcoin
Bitcoin price trading sideways, 1-day chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Since the Bitcoin price reached a new yearly high of $31,840 last week, only to invalidate the bullish breakout within a few hours and fall towards $30,000, there has been a strange tranquility in the market. Already since June 23, BTC has been in the trading range between $29,800 and $31,300, with every breakout attempt to the upside and downside having failed within a very short period of time. However, one of the most prominent technical indicators, the Bollinger Bands, predict that this calm may soon be over. Created by the esteemed trader John Bollinger, these bands provide invaluable insights into market volatility and potential price levels. Bollinger Bands Predict Big Move For Bitcoin The Bollinger Bands consist of three distinct lines on a price chart: the middle band, the upper band, and the lower band. The middle band is a simple moving average (SMA) that represents the average price over a specified period. The upper and lower bands are derived from the middle band, with the upper band usually set two standard deviations above the SMA, and the lower band set two standard deviations below it. Related Reading: $18 Billion Worth Of Bitcoin Accumulated At $30,200 \u2013 BTC Bull Run Incoming? The primary purpose of the Bollinger Bands is to measure market volatility. When the price of an asset experiences significant fluctuations, the bands widen, indicating increased volatility. Conversely, during periods of reduced price movement, the bands contract, indicating lower volatility. This contraction is commonly referred to as a “squeeze,” where the upper and lower bands come closer together, forming a narrowing price channel. When the Bollinger Bands squeeze, the potential for a significant price movement looms. The squeeze suggests that the market is in a state of temporary equilibrium, akin to a coiled spring ready to release its stored energy. The direction of the breakout determines whether it’s a bullish or bearish signal. Up Or Down? Glassnode, a respected on-chain data provider, highlighted today the current state of the Bitcoin market, noting a remarkably low volatility environment. The 20-day Bollinger Bands are experiencing an extreme squeeze, with a mere 4.2% price range separating the upper and lower bands. This suggests that Bitcoin is currently in a period of limited price movement, \u201cmaking this the quietest Bitcoin market since the lull in early January.\u201d As Bitcoin investors may remember, the Bollinger Bands squeeze in January marked the end of a lengthy downtrend. After the FTX collapse, the BTC market was in a state of shock paralysis, which was ultimately resolved by Bollinger Bands squeeze, leading to a 42% price increase in 26 days. Related Reading: Perfect Storm: Why Bitcoin & Crypto Are Poised For A Dramatic Recovery The Bollinger Bands’ squeeze, combined with diminishing trading volumes, creates a scenario of mounting pressure in the Bitcoin market. As trading volume declines, the potential energy stored in this coiled spring intensifies. According to the analysts at CryptoCon, the bullish scenario is the one to be favored at the moment. “When Bitcoin volatility gets low in a bear market, it’s very bearish. When volatility gets low in a bull market, it’s insanely bullish,” the analysts say. As Bitcoin is unanimously seen to be at the start of a new bull market, a strong move to the upside could be in store. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":542930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1057,1119,1144,6664],"class_list":["post-542925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bollinger-bands","tag-btc","tag-btcusd","tag-crypto"],"acf":[],"yoast_head":"\nBig Bitcoin Move Ahead: Bollinger Bands See Extreme Squeeze<\/title>\n<meta name=\"description\" content=\"The Bollinger Bands predict that the recent slump in Bitcoin (BTC) volatility may soon be over. 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Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Big Bitcoin Move Ahead: Bollinger Bands See Extreme Squeeze","url":"http:\/\/wncen.com\/news\/big-bitcoin-move-ahead-bollinger-bands-see-extreme-squeeze\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/big-bitcoin-move-ahead-bollinger-bands-see-extreme-squeeze\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/iStock-1305769484-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/iStock-1305769484-1.jpg?fit=2250%2C1332"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bollinger bands","btc","btcusd","crypto"],"dateCreated":"2023-07-17T11:30:29Z","datePublished":"2023-07-17T11:30:29Z","dateModified":"2024-06-11T06:51:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Big Bitcoin Move Ahead: Bollinger Bands See Extreme Squeeze\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/big-bitcoin-move-ahead-bollinger-bands-see-extreme-squeeze\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/big-bitcoin-move-ahead-bollinger-bands-see-extreme-squeeze\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1305769484-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1305769484-1.jpg?fit=2250%2C1332\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bollinger bands\",\"btc\",\"btcusd\",\"crypto\"],\"dateCreated\":\"2023-07-17T11:30:29Z\",\"datePublished\":\"2023-07-17T11:30:29Z\",\"dateModified\":\"2024-06-11T06:51:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/iStock-1305769484-1.jpg?fit=2250%2C1332","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/542925"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=542925"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/542925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/542930"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=542925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=542925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=542925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}