Bitcoin’s Bottoming Out? Bollinger Drops Bombshell 🚨

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John Bollinger, the trading world’s answer to a rockstar (if rockstars were obsessed with charts and candlesticks), has declared that Bitcoin might be bottoming out. 🎸

His brainchild, the Bollinger Bands, is showing a W bottoming pattern—basically Bitcoin’s way of saying, “Hold my beer, I’m about to go bullish.” 📈

Classic Bollinger Band W bottom setting up in $BTCUSD. Still needs confirmation.
Remember: The fraudsters are legion. I will never ask you for anything. #BollingerBands #btc

— John Bollinger (@bbands) April 10, 2025

W-bottoms are like the universe’s way of saying, “Hey, things might not be as bad as they seem.” Prices hit a higher low, touch the lower band, and voilà—hope is restored. 🌈

But hold your horses, folks. Bollinger, ever the cautious chartist, warns that this pattern isn’t confirmed yet. Bitcoin’s weekly chart is still playing hard to get. 🕵️‍♂️

After a recent sell-off, Bitcoin briefly dipped below the horizontal support (marked in blue on Bollinger’s chart—because apparently, colors matter). On April 7, it hit a multi-month low of $74,415, dragging U.S. equities down with it. But then, like a phoenix rising from the ashes, it surged on April 9 after the U.S. paused some controversial tariffs. 🦅

As of now, Bitcoin is trading at $79,508, after hitting an intraday low of $78,669. It’s still down 26.9% from its January high of nearly $109,000. So, yeah, it’s been a rough ride. 🎢

Bollinger, who’s been in the game since the 1970s (when disco was still a thing), has a knack for making spot-on Bitcoin predictions. He’s basically the Nostradamus of crypto. 🔮

Meanwhile, Mike McGlone, the guy who once predicted Bitcoin would hit $100,000, is now whispering about a mean revision to $10,000. Talk about a plot twist. 🍿

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2025-04-10 22:08