Legendary trader John Bollinger has observed an "important reversal" in Bitcoin's price at its lower Bollinger Band, suggesting a potential opportunity for a long trade. However, he also notes the challenge of setting a logical stop for the trade due to the long tail on the current price movement. Bollinger's past accurate Bitcoin price predictions have garnered attention from the investment community. Bitcoin briefly surged to an intraday high of $84,851 before settling at $84,590. Earlier, the cryptocurrency had hit its lowest level in three months at $78,393. Despite recent volatility, Standard Chartered analysts predict Bitcoin could reach $200,000 by the end of this year.



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