Big pump or painful dump: what's next for Bitcoin?
It seems the leading crypto is at a crossroads, with one key indicator suggesting it might be about to make a major move.
Many analysts believe the bullish trend is the most likely scenario, while renewed interest from institutional investors backs this expectation.
Are there any major events coming up?
Earlier this week, analyst Cantonez Cat pointed out that the monthly Bollinger Bands indicator for Bitcoin has recorded its largest compression ever. This indicator, created by John Bollinger, consists of a moving average with upper and lower bands that expand and contract based on market volatility.
When these channels tighten, it means volatility has dropped to unusually low levels - a setup that often precedes a big move, although the direction (up or down) is still unknown.
It's important to note that in previous cases, the tightening of trading ranges has led to significant price swings. This was observed in early October last year when Bitcoin's price was around $120,000. Shortly after, the price surged to a new all-time high exceeding $126,000, followed by a sharp correction.
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