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The Bitcoin price gets a new 100-day breakout countdown

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Analyst Sees a Bitcoin Market Shift — Here’s What’s Happening
Analyst Sees a Bitcoin Market Shift — Here’s What’s Happening

Important points

  • Bitcoin’s breakout is imminent after Bollinger Bands records “tightness,” The direction of the ship is not known.

  • According to the past, the situation usually settles in around three months.

  • BTC’s price movement is hinting at a new beginning “price discovery uptrend.”

BitcoinBTC() can flip “parabolic” BTC’s bull market will either end in the next 100-days, according to a recent analysis of price volatility.

Then, you can also find out more about the following: X post Tony, a trader from Wednesday, shares his thoughts on the market. “The Bull” Severino concluded Bitcoins’ next moves hinge on Bollinger Bands, a volatility indicator.

BTC faces new dilemmas in its price breakout

Bollinger Bands, a classic volatility gauge Recently, the price of that indicator has reached a record. “tightness” On, weekly timeframes.

Analysts are watching out for price breakouts through either the outer upper or lower band.

Severino cautioned that such a change may not happen immediately but it could take over three months.

“For now, BTCUSD has failed to break out above the upper band with strength,” “He said”

“According to past local consolidation ranges, it could take as long as 100+ days to get a valid breakout (or breakdown, if BTC dumps instead).”

BTC/USD weekly chart with Bollinger Bands. Source: Tony “The Bull” Severino/X

Time frame is calculated based on Bollinger Band breakouts during the bull-market, which started at the beginning of 2023.

Severino stated that a break of either band with a daily candle was the most important signal. However, he added that false breakouts could occur.

“Beware: expanding from a Squeeze setup like this can lead to head fakes. We might have seen one with this latest move,” “He continued, referring the latest Bitcoin all-time low above $126,000.

“We also might see another head fake down from here before eventually taking off higher.”

Bitcoin “price discovery uptrend” next?

The following are some of the ways to get in touch with us. Cointelegraph reportedMarket participants have been led to believe that the BTC/USD pair will reach a new high in October due to previous bull market conditions.

Related: BTC October price breakout odds low: 5 things to know in Bitcoin this week

However, the price hasn’t yet shown the explosive upward trend that is characteristic of the end of a bull run. 

Rekt Captial is an analyst and trader who deals in the stock market. reported Last month, it was noted that BTC cycles are not getting shorter but longer.

“It’s unlikely Bitcoin has already peaked in its Bull Market because that would effectively mean that this cycle was one of the shortest of all time,” He correctly stated at the time that $124,500 still represented the record high.

Rekt Capital has announced that a potential new fund could be launched this week.price discovery uptrend.”

Severino claimed that Bollinger Bands’ breakout would have a major impact on bull market. He wrote:

“This has the potential to send Bitcoin parabolic, or put an end to the three year’s mature bull rally.”

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.