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📅 July 3, 7:00 – July 9,
Has a bottom finally formed in Bitcoin? The creator of Bollinger Bands revealed!
Investors eagerly await the end of the downward trend in Bitcoin and the beginning of a rise, while the creator of Bollinger Bands, John Bollinger, indicated that there is a dip formation in BTC.
At this point, John Bollinger stated that Bitcoin's Bollinger Bands are trying to form a double dip formation, but this has not yet been confirmed.
After the sharp drops, John Bollinger stated that Bitcoin may be forming a classic "W" dip pattern based on the %b indicator.
The %b indicator measures a security's closing price relative to its position within the Bollinger Bands. This means that Bitcoin is forming a dip according to the Bollinger Bands.
According to Bollinger, while confirmation is still necessary, it could be a signal of a potential price recovery. "W" dips occur when prices reach a higher dip level and touch the lower band.
Experienced analyst Timothy Peterson shared his expectations for Bitcoin, predicting that Bitcoin can only rise after stocks find their bottom.