Cryptocurrency traders and enthusiasts have much to be excited about as legendary trader, John Bollinger, suggests that Bitcoin (BTC) is getting ready to experience a squeeze. Bollinger Bands are a popular technical analysis tool used in the trading world, and a squeeze is a signal that a possible significant price movement is about to occur. Recently, via a series of tweets, Bollinger stated that the current bandwidth value is at its lowest, in 96 bars and drew attention to the fact that although he usually prefers a minimum of 125 periods, this alone should be enough evidence that the cryptocurrency could be facing a change in its volatility regime.

Bollinger's prediction was further validated by fellow trader, Bob Loukas, who spotted Bitcoin was coiling and tightening, and subsequently building pressure. Also, using a tool known as TrendSpider, Bollinger was able to confirm that a squeeze, followed by an expansion, had already begun on the higher time frame, whilst setting up a squeeze on the lower time frame.

Overall, the effect of Bollinger's tweet and the indication of an imminent squeeze has sparked much interest among crypto-traders, who now eagerly await the volatility that the market is about to experience. For those in the know, predicting the squeeze, could be a lucrative move as prices could potentially start to rocket. The cryptocurrency community is on the edge of their seats to see what the BTC markets can do when the squeeze officially takes off and volatility starts to increase.



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