🔥🔥🔥Bitcoin's daily Bollinger Bands are expanding, why BTC price may rise to $120,000 as early as next week
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Bitcoin price may soar to $120,000 next week.
BTC price target:
Severino predicts based on the expansion of Bitcoin's daily Bollinger Bands (BB) and a price trend similar to that of 2023.
He believes that if history repeats itself, Bitcoin could reach a new all-time high. The expansion of the Bollinger Bands usually indicates increased price volatility, and Bitcoin is currently approaching the upper band at $102,323.
If Bitcoin closes above the Bollinger Bands, it may rise to $120,000. The current trading price is $100,219, requiring a 20% increase to reach the target.
Confirming bullish signals:
Bitcoin's Bollinger Bands and Bollinger Band Width (BBW) indicate a strong upward trend. Bitcoin quickly recovered after previously dropping to the mid-band, highlighting its support nature.
BBW has shown lower contraction, with recent price movements similar to early November, when the price surged from $70,000 to $100,000.
If the bullish trend continues, Bitcoin could set a new all-time high of $136,000, representing a significant increase of 36% from the current price.
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