Bitcoin price is experiencing one of its more significant corrections since the trend began to change directions.\u00a0<\/p>\n
According to the creator of the Bollinger Bands, it\u2019s once again \u201ctime to pay attention\u201d \u2014 this time because BTCUSD has pulled back to a \u201clogical\u201d level.\u00a0<\/p>\n
Bitcoin reached almost double from current bear market lows, nearly convincing the crypto community a new bullish trend had begun. With BTCUSD now down more than 10% from local highs, fear is already back on the air in a major way.\u00a0<\/p>\n
Bulls are now all but silent, after just recently declaring the bull market has returned. Bears are already celebrating the correction as continuation of the bearish trend getting underway.<\/p>\n
More tactical technicians, like John Bollinger, simply believe it\u2019s \u201ctime to pay attention,\u201d and haven\u2019t yet taken a side. The quote has become a bit of a catchphrase for the creator of the Bollinger Bands. But what exactly is he talking about?<\/p>\n\n
The Bollinger Bands<\/a> are a volatility measuring tool. The tool\u2019s creator recently pointed out an expansion after a lengthy phase or narrowing. This behavior is referred to as a \u201csqueeze\u201d and suggests an uptick in volatility is ahead. Which is precisely what we are witnessing now.\u00a0<\/p>\n Volatility is the measure of price dispersion across a timeframe, and after very little movement, BTCUSD is like a rollercoaster once again. Ups and downs are par for the course.<\/p>\n The Bollinger Bands are made up of a 20-period simple moving average (SMA), to where price pulled back to and has now broken below. The upper and lower bands are set at two standard deviations of the SMA.<\/p>\n The next logical level to look for support would be the lower band, located at around $27,000. Once Bitcoin hits the level it could continue downward with strength or snap back to the top of the band.\u00a0<\/p>\n One thing is for sure, the tool predicting volatility was accurate. Now it\u2019s time to pay attention.<\/p>\n As a journalist I often cover the greatest calls by the best in the biz. <\/p>\n As a trader, I never forget the corresponding price action, allowing me to learn at every turn. <\/p>\n Same vibes. Pay attention. pic.twitter.com\/cbpjaK9Ntd<\/a><\/p>\n \u2014 Tony “The Bull” (@tonythebullBTC) April 20, 2023<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin price is experiencing one of its more significant corrections since the trend began to change directions.\u00a0<\/p>\n According to the creator of the Bollinger Bands, it\u2019s once again \u201ctime to pay attention\u201d \u2014 this time because BTCUSD has pulled back to a \u201clogical\u201d level.\u00a0<\/p>\n Bitcoin reached almost double from current bear market lows, nearly convincing the crypto community a new bullish trend had begun. With BTCUSD now down more than 10% from local highs, fear is already back on the air in a major way.\u00a0<\/p>\n Bulls are now all but silent, after just recently declaring the bull market has returned. Bears are already celebrating the correction as continuation of the bearish trend getting underway.<\/p>\n More tactical technicians, like John Bollinger, simply believe it\u2019s \u201ctime to pay attention,\u201d and haven\u2019t yet taken a side. The quote has become a bit of a catchphrase for the creator of the Bollinger Bands. But what exactly is he talking about?<\/p>\n The Bollinger Bands<\/a> are a volatility measuring tool. The tool\u2019s creator recently pointed out an expansion after a lengthy phase or narrowing. This behavior is referred to as a \u201csqueeze\u201d and suggests an uptick in volatility is ahead. Which is precisely what we are witnessing now.\u00a0<\/p>\n Volatility is the measure of price dispersion across a timeframe, and after very little movement, BTCUSD is like a rollercoaster once again. Ups and downs are par for the course.<\/p>\n The Bollinger Bands are made up of a 20-period simple moving average (SMA), to where price pulled back to and has now broken below. The upper and lower bands are set at two standard deviations of the SMA.<\/p>\n The next logical level to look for support would be the lower band, located at around $27,000. Once Bitcoin hits the level it could continue downward with strength or snap back to the top of the band.\u00a0<\/p>\n One thing is for sure, the tool predicting volatility was accurate. Now it\u2019s time to pay attention.<\/p>\n As a journalist I often cover the greatest calls by the best in the biz. <\/p>\n As a trader, I never forget the corresponding price action, allowing me to learn at every turn. <\/p>\n Same vibes. Pay attention. pic.twitter.com\/cbpjaK9Ntd<\/a><\/p>\nBitcoin Begins Pullback To Logical Level<\/h2>\n
All About The Bollinger Bands<\/h2>\n