The Father of Bollinger Bands Indicator Makes New Forecast for Bitcoin

John Bollinger, who has been sharing his analysis on the cryptocurrency market lately, has assessed the latest situation of Bitcoin.

Renowned technical analyst John Bollinger , the father of the Bollinger Bands indicator , has just shared his views after Bitcoin (BTC) reached an all-time high price.

Technical Analysis and Concerns From Bollinger
According to Bollinger, the recent price increase has eliminated the risk of negative Bollinger Bands divergence – a sign that often signals a reversal in price trends.

He noted that the previous price consolidation was a natural phenomenon in a bull market.

However, Bollinger expressed concern that Ethereum (ETH) , the world's second-largest cryptocurrency, did not participate in this bullish wave.

He called it “a warning” and hoped the rally would include other major coins to stabilize the market.

Reasons for Bitcoin Price Increase
Bitcoin's recent meteoric rise has been driven by a number of factors:

Donald Trump wins US election, bolstering investors’ confidence in crypto-friendly policy.
Rumors that Elon Musk could play a role in the new administration have raised expectations of support for blockchain technology.
It is predicted that Bitcoin Spot ETF trading options will launch soon.
Against this backdrop, Bitcoin price has increased by about 6% over the past week, attracting great attention from both individual and institutional investors.

Conclude
Although Bitcoin is showing outstanding strength, analysts still warn that it is necessary to closely monitor major coins like Ethereum to assess the overall market picture.

This bullish wave can be an opportunity, but it also carries risks if there is no synchronization in major assets.