Bitcoin (BTC) Breakout? Bollinger Bands Hint at Big Upside

Published 25/03/2025, 16:49
Updated 25/03/2025, 20:45
© Reuters Bitcoin (BTC) Breakout? Bollinger Bands Hint at Big Upside

U.Today - Since the beginning of the week, the price of Bitcoin added over 2.3%, but what is more important is that it made it back above $88,000 per BTC. The move came suddenly and unexpectedly for most crypto market participants.

The price action of the leading cryptocurrency was very uncertain in recent weeks, and not many opted to go long when the price was dwindling on the edge of a big collapse to all-time highs of 2021. Macroeconomic instability and political turbulence added to overall fear and doubt.

However, as of March 25, Bitcoin is soaring, and several indicators signal that this move might not be the final one and that the destination is higher. One of the most widely used and battle-tested indicators of the financial market, the Bollinger Bands, in particular, signals that Bitcoin may soon hit a $94,700 price point.

This is where, right now, the middle band is represented by a 20-day moving average on the weekly time frame. In recent weeks, Bitcoin found a solid base at the lower band of the range formed by the indicator, and in the last 15 days, it showed a solid 14.88% rebound from it.

Higher

Now, here’s is where things get even more interesting; if the tendency continues, BTC may soar another 7.8% to test buyers and sellers at the middle band. What comes next depends only on who wins the tug-of-war.

The upper band on the weekly time frame is stretched at $107,180 per BTC right now, very close to the relevant all-time high of the leading cryptocurrency.

Still, the real question is if Bitcoin (BTC) has the strength to push through the resistance ahead, or are we in for yet another rejection?

History has shown that major moves often follow a long period of uncertainty, and if that pattern continues, we might be looking at something much bigger brewing beneath the surface. Right now, however, everyone is keeping their eyes on the lower part of the range formed by the Bollinger Bands.

This content was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.