Bollinger Bands hit their narrowest point, Bitcoin is about to see major price fluctuations

Odaily News Bitcoin's volatility assessment indicator Bollinger Bands have reached their "narrowest point" in a year. Cryptocurrency trader and analyst Matthew Hyland said that it is currently showing a similar pattern to July 2023, which caused Bitcoin to surge 20% over the next four months. If history repeats itself, Bitcoin's current price of $63,845 could quickly rise to an all-time high of $76,614 by November. Hyland explained that it may still take "a few weeks", but he believes that Bitcoin is very close to an "explosive move." "The Bollinger Bands on the Bitcoin weekly time frame have only been this tight twice in history... in April 2016 and August 2023," said cryptocurrency trader MaxBecauseBTC.