{"id":563236,"date":"2020-08-18T15:29:46","date_gmt":"2020-08-18T12:29:46","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=563236"},"modified":"2020-08-18T16:30:20","modified_gmt":"2020-08-18T13:30:20","slug":"bitcoins-btc-rally-is-a-picture-perfect-advance-so-far-bollinger","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoins-btc-rally-is-a-picture-perfect-advance-so-far-bollinger\/","title":{"rendered":"Bitcoin&#8217;s (BTC) Rally is a Picture Perfect Advance So Far &#8211; Bollinger"},"content":{"rendered":"<p><strong>In brief:<\/strong><\/p>\n<ul>\n<li><strong>According to John Bollinger, Bitcoin&#8217;s current rally is a picture-perfect advance.\u00a0<\/strong><\/li>\n<li><strong>BTC has broken the $12k ceiling and managed to turn it into a support zone.\u00a0<\/strong><\/li>\n<li><strong>$13,000 could be in sight if Bitcoin&#8217;s momentum is maintained.\u00a0<\/strong><\/li>\n<\/ul>\n<p>The inventor of the popular charting tool\/indicator of <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoins-btc-bollinger-band-squeeze-points-to-a-major-move-soon\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bollinger Bands<\/a>, <a href=\"https:\/\/en.ethereumworldnews.com\/the-creator-of-bollinger-bands-hints-at-bitcoin-btc-breaking-10k\/\" target=\"_blank\" rel=\"noopener noreferrer\">John Bollinger<\/a>, has stated that Bitcoin&#8217;s current rally is a picture-perfect advance so far. Mr. Bollinger made the comments via Twitter and added that the move by Bitcoin above $12k followed a textbook path within its Bollinger Bands.<\/p>\n<p>His comments <a href=\"https:\/\/twitter.com\/bbands\/status\/1295427462189334528\" rel=\"nofollow noopener\">were as follows<\/a>.<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">I imagine that someone is complaining about the <\/span><span class=\"r-18u37iz\">$BTCUSD<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\"> rally. Not me, a picture perfect advance so far.<\/span><\/p>\n<p>Squeeze, confirmed break out, walk up the upper band, consol, support at middle band, mini-Squeeze, break to new highs. How much more could one ask for?!<\/p><\/blockquote>\n<h2>$13k Could Be In Sight for Bitcoin<\/h2>\n<p>Prior to <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-bitcoin-btc-news\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin (BTC)<\/a> breaking $12k, the King of Crypto had printed <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-has-a-30-chance-of-hitting-17k-by-eoy-crypto-analyst\/\" target=\"_blank\" rel=\"noopener noreferrer\">an ascending triangle<\/a>. By breaking the $12k ceiling, Bitcoin has set itself on a path to test the 2019 peak value of $14,000.<\/p>\n<p>However, before Bitcoin traders can look forward to a retest of the $14k price level, BTC has to go through another difficult zone between $12,900 and $13,100.<\/p>\n<p>For a better feel of Bitcoin&#8217;s price movement, the 6-hour BTC\/USDT chart below will be used to provide clues as to what the future holds for BTC.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/BTCUSDT-August-18th.jpg\"><img class=\"aligncenter size-full wp-image-563237\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/BTCUSDT-August-18th.jpg\" alt=\"\" width=\"955\" height=\"506\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/BTCUSDT-August-18th.jpg 955w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/BTCUSDT-August-18th-300x159.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/BTCUSDT-August-18th-770x408.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/BTCUSDT-August-18th-240x127.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/BTCUSDT-August-18th-717x380.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/BTCUSDT-August-18th-150x79.jpg 150w\" sizes=\"(max-width: 955px) 100vw, 955px\" title=\"\"><\/a><\/p>\n<p>From the chart, the following can be observed.<\/p>\n<ul>\n<li>As explained by Mr. Bollinger, Bitcoin&#8217;s rally above $12k was picture perfect.<\/li>\n<li>BTC broke the ascending wedge as anticipated.<\/li>\n<li>Bitcoin&#8217;s current price at $12,200 is above the 50, 100, and 200 moving averages confirming a bullish environment.<\/li>\n<li>However, the 6-hour MACD and MFI point towards some exhaustion for Bitcoin on the 6-hour chart.<\/li>\n<li>Trade volume is also in the red highting of a possible dip to the $12k area to test this area as support.<\/li>\n<\/ul>\n<p>However, zooming out to the daily MACD, it is observed that it is about to cross in a bullish manner hinting that BTC could be gearing up for another move to retest its recent peak of $12,500. If the $12,500 resistance area is broken, Bitcoin could well be on a path to retest the $13,000 area.<\/p>\n<p>As with all analyses of Bitcoin, traders and investors are advised to use stop losses and low leverage when trading on the <a href=\"https:\/\/en.ethereumworldnews.com\/report-binance-futures-surpasses-bitmex-in-24hr-bitcoin-btc-trade-volume\/\" target=\"_blank\" rel=\"noopener noreferrer\">various derivatives platforms<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In brief: According to John Bollinger, Bitcoin&#8217;s current rally is a picture-perfect advance.\u00a0 BTC has broken the $12k ceiling and managed to turn it into a support zone.\u00a0 $13,000 could be in sight if Bitcoin&#8217;s momentum is maintained.\u00a0 The inventor of the popular charting tool\/indicator of Bollinger Bands, John Bollinger, has stated that Bitcoin&#8217;s current rally is a picture-perfect advance so far. Mr. Bollinger made the comments via Twitter and added that the move by Bitcoin above $12k followed a [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":561906,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[1233,6961,7000],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/563236"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=563236"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/563236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/561906"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=563236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=563236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=563236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}