Crypto analyst shared a graph indicating that Bitcoin might move downwards in the short term.
Crypto analyst nicknamed “Aqua” provided insights into the current status of Bitcoin. In the analysis based on the Bollinger band, he expressed that the downward movement may continue and Bitcoin price could reach 50-53 thousand dollars.
Emphasizing that if the market cycle resembles that of 2017, Aqua stressed that the 50-53 thousand dollars band is more likely and advocated being alert against a possible recovery signal.
The analyst warned investors while expressing that similar movements of Bollinger bands generally provide high accuracy signals:
One of my favorite setups. The Bollinger band squeeze gradually getting released, all you need is a grip right under the support and pullback to the 50k dollar range. Typically a high accuracy signal as observed by me.
