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Analysis: The current BTC Bollinger Band squeeze may indicate that the market will enter a pull-up phase
Odaily News CryptoQuant analyst Axel Adler Jr published an analysis that the current market is experiencing a typical Bollinger Band squeeze phenomenon, and the range between the upper and lower bands has dropped to 7.7%, one of the lowest values in this bull market cycle. Analysts said that this decline in volatility shows that the market is accumulating energy and prices are ready to enter the pull-up phase. In an upward trend environment, the possibility of an upward breakthrough is significantly higher. Axel pointed out that there have been six obvious Bollinger Band squeezes in this bull market cycle. Four of the squeezes were immediately followed by price growth, and the other two experienced slight adjustments before resuming growth. Based on these experiences, the current squeeze state is likely to indicate another wave of upward impulse, although there may be a small consolidation before that.
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