The creator of Bollinger Bands says Bitcoin just bottomed
John Bollinger says Bitcoin has bottomed
The creator of one of the most widely used technical indicators ever says it's time to load up on bitcoin.
He's going on CNBC today to talk about his thoughts:
(Source: https://twitter.com/bbands/status/1407367076839190528)
If you've ever used a candlestick chart, you've like used bollinger bands as well.
I know I use em on every chart I look at.
The large bounce off the lows we are seeing right now tells me that was the low as well...
Hope you bought the dip!
Some are saying could still go lower. I tend to believe them. I don't think it's done yet. Of course, what I'm really waiting for is to finish my trading app.
A lot of volume on the bounce looks promising (for your bottom call), but a "dead cat bounce" isn't out of play just yet. I'm not even a little bit confident calling this as a LIKELY bottom until BTC is trading back above $36K. But that's a "likely bottom" looking out a month or two.
Looking out more than a year, I'm not confident until this breaks and holds above the upper trading range for the last month + (above $42K), holding that level for at least a week.
But, then again, who am I and why should my opinion matter any more than any other Joe?