Bitcoin 'crazy tight' Bollinger Bands point to $190K

BTC price target

Bitcoin should rise "significantly" as intense volatility prepares to hit, new analysis predicts.

In a post on X on July 19, Julien Bittel, head of macro research at financial advisory publication Global Macro Investor, eyed a BTC price of up to $190,000.

"Compressed" Bollinger Bands ignite talk of 6-figure BTC price

Bitcoin has the fuel to launch to six-figure all-time highs if volatility signals play out like in the past.

According to Bittel, the current "crazy" state of the Bollinger Bands volatility indicator demands that BTC/USD rockets higher.

"Bollinger Bands are crazy tight by historical standards," he summarized.

"Only two other months in history have we seen the weekly Bollinger Bands so compressed: April 2016 and July 2023."

Bollinger Bands form one of the most essential crypto volatility indicators and also offer insight into the strength of price trends.

On weekly timeframes, the gap between the upper and lower band has rarely been narrower. What traditionally comes next has always been good news for bulls.

"During both of the previous episodes, Bitcoin prices rose significantly over the following twelve months, Bittel continued.

"A similar move this time around would target Bitcoin within a range of $140,000 to $190,000."

It is not the first time this bull market that the Bands have pointed to major BTC price upside. As Cointelegraph reported, in late 2023, constriction precluded the run to local highs just before the launch of the United States spot Bitcoin exchange-traded funds (ETFS). $BTC #bitocin #btc