{"id":126984,"date":"2025-04-11T10:16:41","date_gmt":"2025-04-11T10:16:41","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126984"},"modified":"2025-04-11T10:16:41","modified_gmt":"2025-04-11T10:16:41","slug":"bollinger-bands-creator-says-bitcoin-forming-classic-floor-near-80k","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126984","title":{"rendered":"Bollinger bands creator says Bitcoin forming &#039;classic&#039; floor near $80K"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) is exhibiting familiar \u201cbottom\u201d behavior at current prices, according to one of its best-known leading indicators.\u00a0<br \/>\nIn an X post on April 10, John Bollinger, creator of the Bollinger bands volatility metric, revealed good news in progress for Bitcoin bulls.<br \/>\nBollinger bands %b metric teases BTC price comeback<br \/>\nBitcoin may already be establishing a long-term bottom, the latest Bollinger bands data suggests.<br \/>\nAnalyzing weekly timeframes, Bollinger himself drew attention to one of his proprietary indicators, known as \u201c%b,\u201d which offers further clues about market trend reversals.<br \/>\n%b measures an asset\u2019s closing price relative to Bollinger band position, employing standard deviation around a 20-period simple moving average (SMA).\u00a0<br \/>\nAmong its insights is the \u201cW\u201d bottom formation, where a first low beneath zero is followed by a higher low retest later \u2014 something that could now be in play for BTC\/USD.<br \/>\nBollinger confirmed to X followers:<br \/>\n\u201cClassic Bollinger Band W bottom setting up in $BTCUSD. Sill needs confirmation.\u201d<br \/>\nBTC\/USD 1-week chart with Bollinger bands data. Source: John Bollinger\/XOn both weekly and daily timeframes, Bollinger bands show no trend shift has taken place yet.<br \/>\nData from\u00a0Cointelegraph Markets Pro\u00a0and\u00a0TradingView shows that the daily chart continues to walk down the lower band, with the middle SMA acting as resistance.<br \/>\nBTC\/USD 1-day chart with Bollinger bands data. Source: Cointelegraph\/TradingViewTurning to stocks, with which BTC\/USD has become increasing correlated, Jurrien Timmer, director of global macro at Fidelity Investments, drew similar conclusions.<br \/>\n\u201cRevisiting the Bollinger Bands, we have gone from 2 standard deviations above-trend to on-trend to now almost 2 standard deviations below-trend,\u201d he noted about the S&amp;P 500 on April 9.\u00a0<br \/>\n\u201cAgain, oversold but not at an historic extreme.\u201d<br \/>\nBitcoin bounce may follow 10% Nasdaq plunge<br \/>\nAs Cointelegraph continues to report, BTC price bottom targets increasingly center around the $70,000 mark.<br \/>\nRelated: Bitcoin, stocks shun CPI print win and give up tariff relief gains \u2014 Will BTC whales save the day?<br \/>\nThat level is significant for several reasons, including as a psychological barrier and its status as a liquidity magnet.<br \/>\nNetwork economist Timothy Peterson, whose Lowest Price Forward metric previously offered 95% odds that $69,000 would stay intact as support, now sees Bitcoin reversing only after stocks find their own floor.<br \/>\n\u201cBitcoin led NASDAQ on this decline.\u00a0 As the asset perceived to be at the top of the risk pyramid, I would expect NASDAQ to rally first, and then Bitcoin.\u00a0 Just something to look for,\u201d he revealed this week.\u00a0<br \/>\n\u201cBut I think NASDAQ has another -10% to fall.\u201d<br \/>\nBitcoin vs. Nasdaq comparison. Source: Timothy Peterson\/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/bollinger-band-creator-bitcoin-forming-classic-floor-below-80k?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) is exhibiting familiar \u201cbottom\u201d behavior at current prices, according to one of its best-known leading indicators.\u00a0 In an X post on April 10, John Bollinger, creator&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126984"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126984"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126984\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126984"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}