Key takeaways:
Bitcoin’s Bollinger Bands indicator now sees the potential for BTC worth breakout above $110,000.
Bitcoin eyes new all-time highs in July because of a number of tailwinds.
Bitcoin (BTC) may see additional upside volatility as BTC’s worth holds key ranges, in response to a basic technical evaluation metric.
Bollinger Bands: BTC worth nears breakout
In a July 6 put up on X, crypto YouTuber Crypto Rover said that Bitcoin was positioned for an upward breakout primarily based on Bollinger Bands analysis.
Bollinger Bands, a Bitcoin indicator utilized by merchants to evaluate momentum and volatility inside a sure vary, has reached its tightest level in 12 months, signaling {that a} important worth transfer could also be underway or imminent.
Crypto Rover shared a chart exhibiting that Bitcoin Bollinger Bands are “tighter than they’ve been” since February 2024 throughout three-day timeframes.
Associated: ‘False move’ to $105K? 5 Things to know in Bitcoin this week
Bitcoin surged about 75% between February and March 2024 to its previous all-time highs of $74,000, after breaking above the higher boundary of the Bollinger Bands.
If historical past repeats, Bitcoin’s present worth of $108,900 may shortly flip into a brand new all-time excessive of $190,000, in response to knowledge from Cointelegraph Markets Pro and TradingView.
In an accompanying remark, Crypto Rover stated:
“Massive pump incoming!”
He wasn’t the one dealer to identify the rising sample.
“Bollinger band tighter than it has been for over a 12 months,” said crypto analyst Cantonese Cat, including, “Greater transfer coming.”
“The $BTC Bollinger Bands are fairly compressed — at present round yearly lows at a 9.4% worth vary,” wrote Crypto markets commentator Frank Fetter in an X put up.
The $BTC Bollinger Bands are fairly compressed — at present round yearly lows at a 9.4% worth vary. When vol? pic.twitter.com/H69SWOZD9x
— Frank (@FrankAFetter) June 30, 2025
John Bollinger, the creator of the Bollinger Bands volatility indicator, had beforehand said that Bitcoin’s a number of rejections from the higher boundary of the indicator round $110,000 may mark an area high.
However the indicator’s creator is now bullish as soon as once more. In a July 6 put up on X, Bollinger said:
“Bitcoin appears to be establishing for an upside breakout.”
A number of metrics: Bitcoin “bull development is undamaged”
As Cointelegraph continues to report, a number of elements are placing Bitcoin in a superb place for extra upside despite hitting resistance at $110,000.
Along with persistent institutional demand by way of spot Bitcoin ETFs and treasury companies, BTC’s large cup-and-handle sample in larger timeframes projects a breakout to as high as $230,000.
Looming US tariff deadlines together with an upcoming “Crypto Week” in Washington D.C. could unlock risk appetite among the bulls.
In the meantime, the Bitcoin market worth realized worth “MVRV” ratio, an onchain metric used to evaluate whether or not Bitcoin’s worth is overvalued or undervalued, is at 2.23, above its 365-day easy transferring common (SMA365) at 2.15, per knowledge from CryptoQuant.
“Traditionally, so long as MVRV stays above its SMA365, the uptrend tends to proceed,” defined CryptoQuant analyst Burakkesmeci in a QuickTake analysis, including:
“The bull development is undamaged.”
As Cointelegraph reported, continued growth of worldwide cash provide (M2) serves as one other potential catalyst for Bitcoin to achieve $170,000 within the coming months.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a choice.
