Bitcoin is nearing a potential breakout, a popular technical indicator shows
Bollinger Bands is useful for gaining market trends in stocks, crypto and other assets. It comes in handy for traders when there is a need to identify overbought or oversold conditions.
Created by famed trader John Bollinger back in the 1980s, the popular indicator is made up of three lines, with the 20-day simple moving average acting as the middle band. Prices typically travel between the lower band and the upper band during a period of range-bound trading. A tag of the upper band might indicate that Bitcoin is ready to break out of the current range and march higher. For now, $25,000 is the key resistance level for bulls to watch.
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