Bollinger Bands suggest Bitcoin bottom won’t fall under $55K
A crypto analyst used Bollinger Bands and RSI data to argue Bitcoin’s bear market bottom will not pass under $55,000.
A crypto analyst argues that maximum pain for Bitcoin this cycle will be a fall to $55,000, based on technical indicators — rather than the $35,000 that some predict.
A fall to $35,000, as predicted by some, would represent a 72% retracement.
It has happened before. Bitcoin fell by 77% from a high of $69,000 in November 2021 to a bottom of $15,500 a year later in November 2022.