John Bollinger says to ‘pay attention soon’ as big move could be imminent

3 hours ago

Technical expert John Bollinger identified imaginable W bottommost patterns successful Ether and Solana charts, suggesting a large determination could follow.

John Bollinger says to ‘pay attraction soon’ arsenic large determination could beryllium imminent

Renowned method expert John Bollinger has identified patterns successful Ether and Solana charts that could suggest a large determination ahead, particularly if thing akin happens with Bitcoin.

John Bollinger has identified “potential ‘W’ bottoms” successful Bollinger Bands, a volatility indicator that helium invented, connected Ether (ETH) and Solana (SOL) charts, but the signifier has yet to signifier connected the Bitcoin (BTC) chart, helium said.

“Gonna beryllium clip to wage attraction soon, I think.”

ETH and SOL look to beryllium mounting up treble bottoms portion Bitcoin is inactive forming its base. A ‘W’ bottommost successful Bollinger Bands is simply a bullish reversal awesome that indicates imaginable upward terms movement.

Ether has fallen to $3,700 doubly this period and appears to beryllium recovering, portion Solana mirrored the determination with a treble dip to $175 successful October, followed by a insignificant recovery.

Bitcoin has made a large ‘V’ shaped dip, falling beneath $104,000 connected Friday earlier recovering implicit the play to commercialized astatine the little set of a range-bound transmission that formed successful mid-May erstwhile it broke into six figures.

Time to wage attention

Analyst ‘Satoshi Flipper’ observed that the past clip Bollinger advised paying attraction was successful July 2024. Bitcoin pumped from beneath $55,000 to implicit $100,000 successful the six months that followed.

“It is so clip to wage attention. That’s a existent Squeeze and the controlling diagnostic is simply a two-bar reversal astatine the little band,” helium said astatine the time.

Following months of choky compression, Bitcoin Bollinger Bands person widened this period arsenic volatility accrued with the grounds leverage flush past weekend. Analysts had predicted this “volatility storm” during the marketplace lull successful September.

Watch the 50-week SMA

BTC has failed to interruption supra the support-turned-resistance level astatine $108,000 since its Friday dump.

However, analysts stay assured that we are not successful a carnivore marketplace yet, contempt each the fear and panic.

Analyst ‘Sykodelic’ said markets are inactive successful an uptrend, utilizing the 50-week elemental moving average, which has been tagged 4 times since November, arsenic a method indicator.

“Every azygous clip the terms has travel down to tag the 1W 50SMA, determination has been wide fearfulness successful the market, with the bulk panic selling and everyone saying it is over. And each clip it has rebounded with spot and pushed overmuch higher.”