John Bollinger Predicts More Bitcoin Consolidation, Here's Why

John Bollinger, the creator of the Bollinger Bands indicator, predicts that Bitcoin (BTC) will likely continue to consolidate, as he has observed no bounce after a two-bar reversal at the lower Bollinger Band. This comes as Bitcoin faces a tumultuous month, with a 10.1% month-to-date (MTD) slump and an ongoing sell-off in the spot Bitcoin ETF market. Bollinger Bands don't predict the specific timing of a trend reversal, but they do suggest oversold conditions for Bitcoin. Recovery for Bitcoin, however, requires a strong catalyst, potentially in the form of the SEC approving a spot Ethereum ETF. Meanwhile, some altcoins like Toncoin are decoupling from Bitcoin's sluggish price action, demonstrating growth.