Bitcoin Bollinger Bands Warnings Shows BTC Price Rejection in What Could Lead to Consolidation

Key points:

• BTC Price Action has rejected several times from the Bollinger Superior band since April.

• The creator of the metric now sees the potential of the local trend to end completely.

• Bitcoin bulls are faced with several opposite winds in June.

Bitcoin (BTC) points out the end of its local rise after rejection of $ 110,000, according to one of the best known negotiation names.

Friday, John Bollinger, famous for having created the Bollinger Bands Volatility Metric, called Time on the return of Bitcoin d’April.

The rejection of Bollinger bands points to BTC price problems

Bitcoin has displayed a classic trendy behavior since its Multimonthe low inversion nearly $ 75,000 in early April, Bollinger said.

By examining the action of the BTC prices in the past two months, the analyst has delimited the rebound in three sections.

After a double “W -shaped” background on the Bollinger strips, BTC / USD delivered three “push” higher, each with a brief high and a consolidation phase. Each thrust also offered a trip to Bollinger’s higher group.

Now, after having omitted to have the heights of all time and to continue, the whole local trend could be finished.

“Three thrusts have now confirmed,” Bollinger wrote in the comment that accompanies him.

Discussing the data, he stipulated that three push “simply means the end of the previous trend” and that the rejection “could then reverse a reversal or a consolidation”.

Bollinger bands are one of the most popular volatility indicators used to trace bitcoin and cryptography market trends. A narrowing of the bands tends to precede periods of volatility, BTC / USD frequently meeting unusually “narrow” periods in recent years.

The Bitcoin Bull Run barriers pile up

While Cointelegraph continues to point out, Bitcoin faces several obstacles to discover prices after making quick gains in May.

In relation: The key level of $ 100,000 becomes Bulls: 5 things to know in Bitcoin this week

In addition to the resistance of the upper Bollinger strip, the sellers have placed large liquidity demand blocks between the summits of all current time and $ 120,000.

The geopolitical events focused on the Middle East and the American-China trade agreement have complicated the image of the bulls.

“Tensions have now returned to levels lastly seen in April,” warned the commercial company QCP Capital warned the Telegram channel subscribers while discussing crypto and risk assets.

“The markets are stuck in a link, preparing for an additional climb or a sudden pivot towards de -escalation through diplomatic canals.”

QCP recognized that Bitcoin, in particular, “remained relatively resilient, which underlines the persistent institutional demand”.

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.