Legendary trader John Bollinger believes that the Bitcoin price will keep consolidating
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
On June 25, the creator of one of the most popular trading tools said that the"lovely" two-bar reversal was supposed to be sufficient for a price jump. The chartist suggested that the cryptocurrency could potentially test the highs. However, this wasn't the case. $102 Billion in Bitcoin and Ethereum Options to Expire Today: All You Need to Knowthat the two-bar reversal was one of his most favorite trading patterns. In fact, he once called it his"bread and butter" trade.
According to the chartist, the ideal two-bar reversal occurs when both bars are greater than the average true range , which is a popular market volatility indicator. Both bars should be big-range bars, according to Bollinger. The first bar should close outside the upper Bollinger Band followed by a close inside . This is a very useful strategy when it comes to counter-trend trades, according toThe price of the leading cryptocurrency is currently sitting at $60,181, according to CoinGecko data.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Legendary Trader John Bollinger Breaks Silence on Bitcoin PriceLegendary trader John Bollinger has identified key reversal pattern in Bitcoin's price, hinting at potential surge to highs
Read more »
Legendary Trader John Bollinger Breaks Silence on Bitcoin PriceBitcoin price to space? John Bollinger reveals key market insight
Read more »
Legendary Trader Peter Brandt Predicts Pain and Pump for Bitcoin PricePeter Brandt predicts short-term pain but long-term gain for Bitcoin
Read more »
Legendary Trader Peter Brandt Reveals Epic 344% Bitcoin Price Growth PredictionVeteran Trader Peter Brandt expects 344% Bitcoin surge over gold in at least next 12 months
Read more »
Legendary Trader Peter Brandt Makes Crucial Bitcoin-to-Gold ComparisonTiming of Brandt's question coincides with period of uncertainty, with Bitcoin falling to one-month low
Read more »
Legendary Trader Peter Brandt Endorses Satoshi Nakamoto's Bitcoin VisionEven experienced traders and investors are diving deeper into fundamentals of first cryptocurrency
Read more »