John Bollinger: Bitcoin BB Squeeze Breakout | Crypto News
Bitcoin’s daily chart is flashing what John Bollinger calls “a little classic technical analysis”: a well-formed base adopted by a Bollinger Band Squeeze and an upside breakout that places $100,000 and roughly $107,000 in view, so long as price can maintain the transfer and keep away from slipping back into the prior vary.
Bitcoin Rebound To $107,000 Next?
“Near perfect base for BTCUSD with a Bollinger Band Squeeze and breakout,” Bollinger wrote alongside the chart. “First upside target 100,000, second ~107,000, third ??? If we fail here it is back into the trenches.”
On the daily timeframe, BTC spent a lot of the late-year period carving out a sideways-to-slightly-higher base after the sharp This autumn selloff. The chart explicitly labels that “Base” area, with price repeatedly holding a low-to-mid $80,000s flooring space before turning greater. That basing course of issues in Bollinger’s framing because it offered the platform for volatility compression to do its work.
The squeeze is seen in the Bollinger BandWidth panel at the underside of the chart, where BandWidth sinks to a marked low (“Squeeze”) and then begins to flip up. That inflection is paired with a sharp surge in the %B panel (the center indicator pane), where %B drives up through the 1.0 line, an on-chart signal that price has pushed past the higher Bollinger Band.
Bollinger annotates that second as the “Breakout,” and the price panel reveals the market accelerating greater off the bottom as the bands start to open. On Bollinger’s chart, BTC is trading at $94,484, with the higher band curling greater and the mid-band rising beneath price. In plain phrases: the transfer is no longer just compression; it’s energetic growth.
Bollinger’s chart attracts two horizontal pink targets above current price: the first at $100,000 and the second close to $107,000.
The risk control is equally clear in his commentary. “If we fail here it is back into the trenches,” he wrote, language that, in chart phrases, factors to BTC dropping the breakout and slipping back into the prior base area which is capped at the $93,500 area. This price stage is of utmost significance for Bollinger.
What About ETH And XRP?
Bollinger also addressed the broader crypto market:“Someone asked about ETHUSD. Same pattern, a bit delayed, following not leading,” he wrote, positioning ether as a lagging participant fairly than the driving force.
For XRP, Bollinger’s take was more cautious despite the apparent raise. “And ripple, strong lift, but the pattern is weaker. BTC > ETH > XRP for now.”
At press time, BTC traded at $93,325.
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