In this episode of NewsBTC’s daily technical analysis videos, we take a look at the ongoing Bitcoin price breakout above the upper Bollinger Band on daily BTCUSD charts and provide some insight into what the next targets might be.
Take a look at the video below:
The breakout across crypto has already resulted in a substantial amount of shorts liquidated. How far could this Bitcoin rally run?
Bitcoin price is now at the middle-point of a horizontal trading range, making for a natural stopping point for profit-taking and to draw in a fresh set of short positions. Busting through the range median will result in another attempt at around $25K.
More importantly, the Bitcoin price is continuing to make a strong push outside of the Bollinger Bands on daily timeframes. After tightening for so long, and now starting to expand, the rally could have more legs than bears expect.
BTC is attempting to break through the median of a the trading range BTCUSD Analysis October 26, 2022″ width=”500″ height=”281″ src=”https://www.youtube.com/embed/y6UJmOECs24?feature=oembed” frameborder=”0″ allowfullscreen=”allowfullscreen”>
Bitcoin price is now at the middle-point of a horizontal trading range, making for a natural stopping point for profit-taking and to draw in a fresh set of short positions. Busting through the range median will result in another attempt at around $25K.
More importantly, the Bitcoin price is continuing to make a strong push outside of the Bollinger Bands on daily timeframes. After tightening for so long, and now starting to expand, the rally could have more legs than bears expect.
BTC is attempting to break through the median of a the trading range
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