{"id":662163,"date":"2024-12-14T03:00:51","date_gmt":"2024-12-14T03:00:51","guid":{"rendered":"https:\/\/uniquehot.com\/?p=662163"},"modified":"2024-12-13T12:08:20","modified_gmt":"2024-12-13T12:08:20","slug":"bitcoin-daily-bollinger-bands","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-daily-bollinger-bands\/","title":{"rendered":"Bitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week"},"content":{"rendered":"

According to Tony Severino, a crypto analyst on X (formerly Twitter), the Bitcoin price could surge significantly to $120,000 by next week. The analyst has grounded his bullish projection on <\/span>Bitcoin\u2019s daily Bollinger Bands (BB)<\/span><\/a>, highlighting that these indicators are expanding while BTC displays a similar price action observed in 2023.<\/span><\/p>\n

BTC Price Targets $120,000 ATH<\/h2>\n

On December 12, Severino<\/span> shared<\/span><\/a> a chart demonstrating a technical analysis of Bitcoin using the Bollinger Bands and a historical correlation of late 2023 price behavior. The analyst predicted that if history repeats itself, the <\/span>Bitcoin price could reach a $120,000 all-time high<\/span><\/a> by next week.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Severino disclosed that Bitcoin\u2019s daily Bollinger Bands are expanding, while its current price action reflects a similar bullish trend observed in 2023. Looking at the analyst\u2019s 2024 price chart, Bitcoin\u2019s upper and lower Bollinger Bands are represented by a respective red and green trend line.<\/span><\/p>\n

Typically, an expanding Bollinger Band indicates <\/span>increasing price volatility<\/span><\/a>. Bitcoin could start a bullish trend if it breaks above the upper band or enter a bearish phase if it drops below the lower band. Bitcoin has also tested the lower Bollinger Band at $92,560 and is now steadily approaching the upper band at $102,323. Additionally, the analyst has placed Bitcoin\u2019s Bollinger Band basis at $97,442.<\/span><\/p>\n

Severino observed that the <\/span>Bitcoin price chart<\/span><\/a> on the right shows a historical instance in late 2023 when BTC broke above the upper Bollinger band and followed with a substantial price rally as it walked the bands higher. This historical trend is currently being replicated in Bitcoin\u2019s 2024 price setup, indicating a potential for a <\/span>significant upward price movement<\/span><\/a> if similar conditions seen in 2023 are met.\u00a0<\/span><\/p>\n

If Bitcoin\u2019s price closes above the upper Bollinger Band with a buy signal, it could spark a rally toward $120,000. Currently trading at $100,219, Bitcoin would need to increase by 20% to reach the analyst\u2019s projected target by next week.\u00a0\u00a0<\/span><\/p>\n

Analyst Confirms Bitcoin Bollinger Band Bullish Signal<\/h2>\n

Also commenting on Bitcoin\u2019s recent price action, Trader Tardigrade, an analyst on X, <\/span>revealed<\/span><\/a> that BTC’s Bollinger Bands and Bollinger Band Width (BBW) are signaling the potential for a <\/span>strong uptrend continuation<\/span><\/a>. Sharing a price chart, the analyst noted that Bitcoin previously dipped to the middle of the band but quickly recovered, underscoring the supportive nature of the mid-band.<\/span><\/p>\n

Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything<\/a><\/div>\n

 <\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Trader Tardigrade has revealed that Bitcoin\u2019s BBW has hit a lower contraction, while its <\/span>recent price movements<\/span><\/a> resemble those of early November, just before its price skyrocketed from $70,000 to $100,000. If Bitcoin\u2019s price maintains its current bullish trend, the analyst predicts a surge that could drive the cryptocurrency to a new all-time high at $136,000. This substantial price increase would represent a massive 36% rally from Bitcoin\u2019s current price.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price struggling at $100,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

According to Tony Severino, a crypto analyst on X (formerly Twitter), the Bitcoin price could surge significantly to $120,000 by next week. The analyst has grounded his bullish projection on Bitcoin\u2019s daily Bollinger Bands (BB), highlighting that these indicators are expanding while BTC displays a similar price action observed in 2023. BTC Price Targets $120,000 ATH On December 12, Severino shared a chart demonstrating a technical analysis of Bitcoin using the Bollinger Bands and a historical correlation of late 2023 price behavior. The analyst predicted that if history repeats itself, the Bitcoin price could reach a $120,000 all-time high by next week.\u00a0 Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green Severino disclosed that Bitcoin\u2019s daily Bollinger Bands are expanding, while its current price action reflects a similar bullish trend observed in 2023. Looking at the analyst\u2019s 2024 price chart, Bitcoin\u2019s upper and lower Bollinger Bands are represented by a respective red and green trend line. Typically, an expanding Bollinger Band indicates increasing price volatility. Bitcoin could start a bullish trend if it breaks above the upper band or enter a bearish phase if it drops below the lower band. Bitcoin has also tested the lower Bollinger Band at $92,560 and is now steadily approaching the upper band at $102,323. Additionally, the analyst has placed Bitcoin\u2019s Bollinger Band basis at $97,442. Severino observed that the Bitcoin price chart on the right shows a historical instance in late 2023 when BTC broke above the upper Bollinger band and followed with a substantial price rally as it walked the bands higher. This historical trend is currently being replicated in Bitcoin\u2019s 2024 price setup, indicating a potential for a significant upward price movement if similar conditions seen in 2023 are met.\u00a0 If Bitcoin\u2019s price closes above the upper Bollinger Band with a buy signal, it could spark a rally toward $120,000. Currently trading at $100,219, Bitcoin would need to increase by 20% to reach the analyst\u2019s projected target by next week.\u00a0\u00a0 Analyst Confirms Bitcoin Bollinger Band Bullish Signal Also commenting on Bitcoin\u2019s 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. Sharing a price chart, the analyst noted that Bitcoin previously dipped to the middle of the band but quickly recovered, underscoring the supportive nature of the mid-band. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything   Trader Tardigrade has revealed that Bitcoin\u2019s BBW has hit a lower contraction, while its recent price movements resemble those of early November, just before its price skyrocketed from $70,000 to $100,000. If Bitcoin\u2019s price maintains its current bullish trend, the analyst predicts a surge that could drive the cryptocurrency to a new all-time high at $136,000. This substantial price increase would represent a massive 36% rally from Bitcoin\u2019s current price.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":653177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-662163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week<\/title>\n<meta name=\"description\" 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