Veteran Trader Bollinger Offers Key Update on Bitcoin (BTC) Pricing Dynamics

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    <p>Renowned market analyst John Bollinger anticipates ongoing Bitcoin price consolidation</p>
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    <p dir="ltr">Esteemed trader John Bollinger <a target="_blank" href="https://x.com/bbands/status/1806717344091382264"><u>projected</u></a> on the X social platform that Bitcoin, the preeminent digital currency, is set to continue its consolidation pattern within its present range.</p>
    <p dir="ltr">Bollinger pointed out that the premier cryptocurrency didn’t achieve a price rebound following a two-bar reversal at the lower Bollinger Band.</p>
    <p dir="ltr">On June 25, he noted that the “beautiful” two-bar reversal should have kick-started a price increase. The well-known technician proposed that the digital currency might challenge its peak levels. Unfortunately, the expected surge did not materialize.</p>
    <p dir="ltr">Previously in 2021, Bollinger <a target="_blank" href="https://x.com/bbands/status/1372576094457503744"><u>mentioned</u></a> that the two-bar reversal ranks among his preferred trading setups, even labeling it as his “bread and butter” trade at one point.</p>
    <p dir="ltr">He detailed that a perfect two-bar reversal would feature both bars exceeding the average true range (ATR), a widely utilized indicator of market volatility. According to Bollinger, each bar should be a wide-range bar; with the first bar concluding outside the top Bollinger Band, trailed by a closing within, or the opposite. He endorses this method for counter-trend trading activities.</p>
    <p dir="ltr">CoinGecko data shows that the value of the foremost cryptocurrency is currently at $60,181. It earlier touched the $62,000 mark today before the positive trend subsided shortly after.</ dup> 

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    <p>About the author</p>
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        <p>Alex Dovbnya, also recognized as AlexMorris, is a distinguished figure in the realm of cryptocurrencies, boasting roles as a trader, analyst, and reporter with a rich portfolio of over 1,000 articles for U.Today, CryptoComes, and other specialist media. His keen focus is on the evolving regulatory landscape influencing digital currencies worldwide. For inquiries, Alex is reachable at alex.dovbnya@u.today.</p>
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