John Bollinger, the inventor of Bollinger Bands, has indicated that bitcoin may be poised for an upside breakout, as noted in a recent social media post.
Bollinger, an American author and financial analyst who developed this technical analysis tool in the early 1980s, stated, “Bitcoin looks to be setting up for an upside breakout. $BTCUSD More as the week gets going.” Bollinger Bands, which consist of a moving average and two standard deviation lines, are used by traders to assess price volatility and market trends, offering insights into high and low price levels relative to the market.
