The post Bitcoin’s Bull Run May Delay – John Bollinger Warns Traders appeared first on Coinpedia Fintech News
Bitcoin’s price has gone up a lot this year, even reaching a record high of $111,980. But now it has dropped to around $104,515, falling 3% in the last 24 hours. It seems the strong rally might be losing steam.
Veteran trader John Bollinger, the creator of Bollinger Bands, has shared a warning. He sees a pattern that could mean Bitcoin may slow down or pull back soon.
The “Three Pushes to a High” Pattern
In his tweet, Bollinger shared a chart showing a “Three Pushes to a High” pattern. This pattern happens when the price hits the upper Bollinger Band three times in a row but can’t keep going higher.
It usually means that the uptrend is getting tired, and the price might soon take a break or even drop a little.
A picture perfect 'Three Pushes to a High’ Bollinger Band Pattern marked the end of this rally phase for $BTCUSD. https://t.co/KZ3GWr7
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