{"id":28419,"date":"2024-12-14T03:00:51","date_gmt":"2024-12-14T03:00:51","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=28419"},"modified":"2024-12-14T03:00:51","modified_gmt":"2024-12-14T03:00:51","slug":"bitcoin-daily-bollinger-bands-expand-why-btc-price-could-rise-to-120000-as-early-as-next-week","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=28419","title":{"rendered":"Bitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week"},"content":{"rendered":"

According to Tony Severino, a crypto analyst on X (formerly Twitter), the Bitcoin price could surge significantly to $120,000 by next week. The analyst has grounded his bullish projection on Bitcoin\u2019s daily Bollinger Bands (BB)<\/a>, highlighting that these indicators are expanding while BTC displays a similar price action observed in 2023.<\/p>\n

BTC Price Targets $120,000 ATH<\/h2>\n

On December 12, Severino shared<\/a> a chart demonstrating a technical analysis of Bitcoin using the Bollinger Bands and a historical correlation of late 2023 price behavior. The analyst predicted that if history repeats itself, the Bitcoin price could reach a $120,000 all-time high<\/a> by next week.\u00a0<\/p>\n

Severino disclosed that Bitcoin\u2019s daily Bollinger Bands are expanding, while its current price action reflects a similar bullish trend observed in 2023. Looking at the analyst\u2019s 2024 price chart, Bitcoin\u2019s upper and lower Bollinger Bands are represented by a respective red and green trend line.<\/p>\n

Typically, an expanding Bollinger Band indicates increasing price volatility<\/a>. Bitcoin could start a bullish trend if it breaks above the upper band or enter a bearish phase if it drops below the lower band. Bitcoin has also tested the lower Bollinger Band at $92,560 and is now steadily approaching the upper band at $102,323. Additionally, the analyst has placed Bitcoin\u2019s Bollinger Band basis at $97,442.<\/p>\n

Severino observed that the Bitcoin price chart<\/a> on the right shows a historical instance in late 2023 when BTC broke above the upper Bollinger band and followed with a substantial price rally as it walked the bands higher. This historical trend is currently being replicated in Bitcoin\u2019s 2024 price setup, indicating a potential for a significant upward price movement<\/a> if similar conditions seen in 2023 are met.\u00a0<\/p>\n

If Bitcoin\u2019s price closes above the upper Bollinger Band with a buy signal, it could spark a rally toward $120,000. Currently trading at $100,219, Bitcoin would need to increase by 20% to reach the analyst\u2019s projected target by next week.\u00a0\u00a0<\/p>\n

Analyst Confirms Bitcoin Bollinger Band Bullish Signal<\/h2>\n

Also commenting on Bitcoin\u2019s recent price action, Trader Tardigrade, an analyst on X, revealed<\/a> that BTC\u2019s Bollinger Bands and Bollinger Band Width (BBW) are signaling the potential for a strong uptrend continuation<\/a>. Sharing a price chart, the analyst noted that Bitcoin previously dipped to the middle of the band but quickly recovered, underscoring the supportive nature of the mid-band.<\/p>\n

\u00a0<\/p>\n

Trader Tardigrade has revealed that Bitcoin\u2019s BBW has hit a lower contraction, while its recent price movements<\/a> resemble those of early November, just before its price skyrocketed from $70,000 to $100,000. If Bitcoin\u2019s price maintains its current bullish trend, the analyst predicts a surge that could drive the cryptocurrency to a new all-time high at $136,000. This substantial price increase would represent a massive 36% rally from Bitcoin\u2019s current price.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

According to Tony Severino, a crypto analyst on X (formerly Twitter), the Bitcoin price could surge significantly to $120,000 by next week. The analyst has grounded his bullish projection on Bitcoin\u2019s daily Bollinger Bands (BB), highlighting that these indicators are expanding while BTC displays a similar price action observed in 2023. BTC Price Targets $120,000 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-28419","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28419"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28419"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28419\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}