2024

Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Legendary trader&nbsp;<a href="https://x.com/bbands/status/1760739742017310862?s=20" rel="noopener noreferrer nofollow">John Bollinger</a> recently offered insights into the current market sentiment, asserting that despite concerns, the ongoing bull market is not unprecedentedly despised. "There have been others," Bollinger remarked, emphasizing the persistent dominance of bulls on the market and cautioning against attempting to challenge their momentum.
However, as Bollinger issued his bullish wake-up call, the&nbsp;<a href="https://u.today/cardano-founder-hails-elon-musks-x-for-crushing-ecbs-bitcoin-diss" rel="noopener noreferrer nofollow">price of Bitcoin</a>, a cryptocurrency he has frequently analyzed, faced a downturn. Today,&nbsp;<a href="https://u.today/fidelitys-jurrien-timmer-suggests-bitcoin-to-reach-6-trillion-in-cap" rel="noopener noreferrer nofollow">BTC</a> dipped by over 0.5%, marking the quotes in red.
<blockquote>
 Oh, there have been others. People seem to forget that the bulls are in charge most of the time and thus desire to argue with the market. Never a good idea.— John Bollinger (@bbands) <a href="https://twitter.com/bbands/status/1760739742017310862?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 22, 2024</a>
</blockquote>
<h2 id="bitcoin-slips-from-key-support">Bitcoin slips from key support</h2>
Of particular concern is the breach of the crucial $51,500 level. This price point had been deemed pivotal for discussions surrounding a potential&nbsp;<a href="https://u.today/bitcoin-btc-price-to-hit-63000-in-march-major-exchange-predicts" rel="noopener noreferrer nofollow">Bitcoin</a> rally. The drop below $50,970 signals a potential shift toward a more bearish sentiment, particularly in the short term, according to many analysts. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="9dce90dc-d430-431b-905c-e543f51506ca" src="https://u.today/sites/default/files/inline-images/btc_549.png">BTC to USD by <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
In light of Bollinger's perspective, this development may align with the arguments of the bears, who have seized the opportunity to sway market bias in their favor. However, it is crucial to remember that Bollinger emphasizes the cyclical nature of markets, suggesting that this short-term dip might not necessarily derail the long-term bullish trend.
Despite the setback in Bitcoin's price, Bollinger's reminder underscores the enduring influence of bullish trends in the market, suggesting that attempting to counteract them could be unwise in the long run. Investors should carefully consider both Bollinger's insights and the current market movements to make informed decisions.

Legendary Trader John Bollinger Issues Bullish Wake-Up Call as Bitcoin Price Turns Red

Table of Contents

U_Today

Other articles published on Feb 23, 2024

EU crypto AML authority to establish HQ in Frankfurt

Bitcoin Price Prediction: As Reddit IPO Filing Reveals BTC And ETH Investments, Experts Say This ...

Price analysis 2/23: BTC, ETH, BNB, SOL, XRP, ADA, AVAX, DOGE, LINK, DOT

FTX Customers Anticipate Payoff as Anthropic Shares Set for Sale

Solana Consolidates Above $100: But Can SOL Go Higher?

Uniswap Introduces User-Friendly Ethereum Addresses with uni.eth Subdomains

Join our free newsletter for daily crypto updates!