Can Bitcoin cement a Bollinger Bands breakout to target $63,000?
Bitcoin could be set for historic gains thanks to a simple trend line breakout, a popular trader hopes.on May 5, Titan of Crypto flagged a rare bull signal on the Bollinger Bands indicator for the Bitcoin monthly chart.BTC price action currently impacts sentiment in different ways across various timeframes. While observers areabout short-term moves, zooming out, consensus remains that Bitcoin’s upside mostly lies ahead as the block subsidy halving approaches.
As Titan of Crypto notes, Bollinger Bands on monthly timeframes are setting up a repeat of a breakout event that has occurred only once in each cycle. Bollinger bands are a key volatility indicator across price timeframes. They revolve around a 20-period simple moving average functioning as a midline, with two standard deviations above and below representing the channel.
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