CandleFocus Bitcoin Bulls Beware as Bollinger Bands Turn Full Bearish
2025-03-09
Author: Content Editor
The creation of the Strategic Bitcoin Reserve did not meet expectations, resulting in a 10.66% drop in Bitcoin's valuation. The Bollinger Bands indicator suggests that Bitcoin is currently stuck between the middle and lower bands, making it vulnerable to a further 4% drop. To change this situation, Bitcoin would need to rise above the middle band, which is unlikely to happen in the next few hours. The weekly time frame also presents a negative outlook, with a potential 12.3% drop for Bitcoin according to the Bollinger Bands.
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