{"id":430919,"date":"2020-07-15T20:00:31","date_gmt":"2020-07-15T20:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=430919"},"modified":"2024-06-11T14:05:14","modified_gmt":"2024-06-11T14:05:14","slug":"bollinger-band-creator-btcusd-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bollinger-band-creator-btcusd-bitcoin\/","title":{"rendered":"Time To Pay Attention: Famed Bollinger Band Creator Comments On Bitcoin"},"content":{"rendered":"

With Bitcoin trading sideways for so long and volatility dropping to such uncharacteristic lows, crypto analysts are watching the Bollinger Bands closely<\/a>.<\/p>\n

Even the tools creator has since spoken out about the current price action in BTCUSD. In the past, when he speaks, a major move often follows. Is it once again time to pay attention to Bitcoin?<\/p>\n

Bitcoin Holds Nine Consecutive Days Above Middle-BB, Bollinger Bands Continue To Contract<\/h2>\n

The first-ever cryptocurrency has spent the last over 75 days consolidating below its most important resistance level ever.<\/p>\n

Bitcoin and other crypto-assets are historically known for their wild and explosive volatility. But that’s not at all been the case for several weeks now, leading to boredom in the crypto market.<\/p>\n

It’s caused traders to get shaken out or move to the sidelines, or as we’ve seen, move onto altcoins. Altcoins everywhere have been surging, with a few setting new all-time high price records<\/a>.<\/p>\n

But because things have become so stagnant in Bitcoin, is has prompted crypto analysts to dig into a technical analysis tool called Bollinger Bands<\/a>.<\/p>\n

Related Reading | Bollinger Band Contraction Could Send Bitcoin Flying 50% Or More<\/a><\/strong><\/em><\/p>\n

The tool consists of a moving average and two standard deviations, acting as the upper and lower “bands.” As much as 90% of price action takes place within the bands. Reversals also take place when price reaches the top or bottom, giving them a band-like effect.<\/p>\n

The bands widen and contract depending on volatility. And because the notoriously volatile asset is so lacking in volatility lately, analysts are comparing instances<\/a> where the bands have tightened this much to make sense out of what to expect next.<\/p>\n

Data shows that the bands have contracted to historic lows<\/a> \u2013 lows that often trigger an explosive move. After yesterday’s powerful rebound from low $9000s, it has even caused the creator of the Bollinger Bands to speak up about Bitcoin.<\/p>\n

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Starting to get constructive on $BTCUSD<\/a> again.<\/p>\n

— John Bollinger (@bbands) July 14, 2020<\/a><\/p><\/blockquote>\n