Analyst: Bitcoin Bollinger Band Squeeze Narrows to 7.7%, Upward Breakout Momentum Strengthens

BlockBeats News, July 8th, CryptoQuant analyst Axel Adler Jr posted, stating, "A typical Bitcoin Bollinger Band squeeze is currently observed, with the range between the upper and lower boundaries reduced to 7.7%, one of the lowest values ​​in the entire bull market cycle. The decrease in volatility indicates that the market is accumulating energy, and the price is ready to rise. The likelihood of a breakout to the upside in an uptrend environment is significantly higher. There have been a total of six significant Bollinger Band squeeze events in this bull market cycle. In four of these squeezes, an immediate uptrend followed, while in the other two cases, a slight pullback occurred first, followed by a continued uptrend. Based on this experience, the current squeeze likely heralds another upward surge, although a minor consolidation before the uptrend cannot be ruled out."