Bitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week

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The analyst predicted that if history repeats itself, the Bitcoin price could reach a $120,000 all-time high by next week.  Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green Severino disclosed that Bitcoin’s daily Bollinger Bands are expanding, while its current price action reflects a similar bullish trend observed in 2023.

Currently trading at $100,219, Bitcoin would need to increase by 20% to reach the analyst’s projected target by next week.   Analyst Confirms Bitcoin Bollinger Band Bullish Signal Also commenting on Bitcoin’s recent price action, Trader Tardigrade, an analyst on X, revealed that BTC’s Bollinger Bands and Bollinger Band Width (BBW) are signaling the potential for a strong uptrend continuation.

This historical trend is currently being replicated in Bitcoin’s 2024 price setup, indicating a potential for a significant upward price movement if similar conditions seen in 2023 are met.  If Bitcoin’s price closes above the upper Bollinger Band with a buy signal, it could spark a rally toward $120,000.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United KingdomSingapore

Topics: Btc price Crypto news BTCUSDT BTC news Analyst Bitcoin price Btc Bitcoin Bitcoin news Btcusd Bitcoin Crypto Crypto analyst

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-14 @ 03:00:51 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 454 words

Reading Time: 3 minutes read

Sentences: 65 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 24404873

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