Bitcoin (BTC) is showing signs of a potential bullish breakout, according to veteran trader John Bollinger, creator of the popular Bollinger Bands technical indicator.
Bollinger, who has a massive following on social media, believes Bitcoin is forming two bullish patterns on the weekly chart. He suggests that if Bitcoin can break through the $65,000 resistance level, it could signal a significant price surge.
Bollinger’s analysis suggests that the last line of defense for Bitcoin bears is the upper range of the Bollinger Bands, currently around $73,000.
Other Analysts Agree
Bollinger isn’t the only one who sees $65,000 as a key level for Bitcoin.
- Pseudonymous analyst Altcoin Sherpa also believes that breaking through this level would signal a shift in market structure, potentially leading to a bullish trend.
- Analyst Josh Rager
also sees a bull flag pattern forming for Bitcoin, with $65,000 as a potential breakout point. He emphasizes the importance of patience in the coming weeks.
At the time of writing, Bitcoin is trading at $64,364.
It’s important to remember that these are just technical analyses, and the market can be unpredictable.
Investors should always conduct their own research and consult with financial advisors before making any investment decisions. /p>
