A crypto analyst has suggested that investors should be prepared for a possible Bitcoin (BTC) rally towards the end of the year despite the current bearish sentiment.
Particularly, the analyst with the pseudonym Stockmoney Lizards noted in an X post on July 13 that technical analysis suggests bullishness for Bitcoin.
The analyst centered his prediction on Bitcoin’s interactions with the lower border of the weekly Bollinger Band, a tool often used by traders to identify overbought and oversold conditions.
According to Stockmoney Lizards, Bitcoin has touched the lower border of the weekly Bollinger Band thrice since November 2022. Historical data from the past two instances suggest that significant price increases could be on the horizon.
Bitcoin price analysis chart. Source: TradingView/Stockmoney Lizards
Can Bitcoin replicate past instances?
The first touch in November 2022 resulted in a 100% increase over seven months, as Bitcoin experienced a substantial rally, doub
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