Table content
## Is Bitcoin (BTC) About to Explode? Bollinger Bands Suggest Huge Potential Gains
**Attention:** The author’s opinions are intended only to provide information and do not represent monetary advice. U.Today is not liable for any monetary losses incurred while trading digital currencies. Before making any investment choices, speak with a financial expert and do your own investigation.
Since the beginning of the week, Bitcoin’s value has increased by more than 2.3%, regaining the $88,000 threshold. Given the recent price swings, this action has taken many cryptocurrency market players off guard.
The price fluctuations of the dominant cryptocurrency have been erratic for several weeks. Many people were reluctant to take long positions as the price fell sharply. Macroeconomic uncertainty and political unrest have heightened anxiety and skepticism.
However, as of March 25, Bitcoin’s price is rising, and certain indicators suggest that this advance may not be the conclusion, with even greater price objectives in view. One of the most extensively used and tried-and-true indicators in financial markets, the Bollinger Bands, suggests that Bitcoin may soon reach a price of $94,700.
The 20-day moving average on the weekly period now represents the middle band. Bitcoin has discovered substantial support on the lower band of the range formed by this indicator in recent weeks, and it has recovered by 14.88% from this indicator over the previous 15 days.
## More Advantages
Now, things are becoming more intriguing. If this pattern persists, BTC may gain another 7.8% to test the buyers and sellers in the middle band.
The eventual champion in this contest will entirely determine what’s to come.
The real conundrum lies in whether or not Bitcoin is able to conquer its present opposition, or if we will encounter another price adjustment?
At the moment, the top limit on Bitcoin’s seven-day graph is at $107,180, exceedingly near the prior peak of this prominent digital money. But now, all attention is focused on the spectrum created by the bottom limit of the Bollinger Bands. Do On-Chain Measurements Herald the Cessation of Bitcoin’s Upward Trend?
Past happenings reveal that considerable marketplace shifts typically arise following an extended duration of waiting. Should this blueprint persist, we might observe a more substantial action developing.
