John Bollinger, the inventor of Bollinger Bands, which are widely used in cryptocurrency charts, gives a bullish signal for Bitcoin (BTC).
Successive ETF news reveals a bullish scenario for Bitcoin and the altcoins that move with it. Bull run signals are on the agenda for Bitcoin, which has exceeded the 27 thousand dollar band. However, it is also among the controversial issues that the rise due to the news flow may be artificial.
These days, when the crypto market is active, a comment came from John Bollinger. The inventor of Bollinger Bands, which is used extensively by crypto traders, talked about a potential rise for BTC.
Bitcoin comment from the inventor of Bollinger Bands
The two bar reversal for $BTCUSD at the lower Bollinger Band on Sep. 11/12 is still the controlling technical factor.https://t.co/rCOE1lisfP
This is a good setup for a walk up the upper band, just need a bit more strength to confirm.— John Bollinger (@bbands) September 28, 2023
Sharing on the X (formerly Twitter) platform, Bollinger highlighted his own indicator. The famous trader stated that the BTC/USD parity on September 11 and 12 reversed in the Bollinger Band. The trader, who put forward the Bollinger movement, stated that a suitable basis has been formed for a movement to the upper band. However, according to the trader, Bitcoin needs to gain some more strength in this region in order to experience an increase.
Stating that the technical indicator has an upward potential, Bollinger thinks that the 2.7 percent increase should be permanent. Gaining this zone and increasing bullish appetite could lead to a strong rise in Bitcoin. The most important factor in Bitcoin’s rise will be the ETF news that occupies the agenda.
Bollinger Bands, created by the famous investor, reflect a simple price movement. It includes the middle band, which represents the moving average, and the upper and lower bands, which show standard deviations from the middle band.
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