Bitcoin Bollinger Bands Point Toward "Powerful Move"

Bollinger Bands on Bitcoin’s monthly chart have tightened to their narrowest level on record, signaling elevated volatility ahead. Analyst Cantonese Cat posted on X that "this will lead to a very powerful move when it expands," and another analyst, Osemka, said such squeezes produce strong moves.

Technically, Bitcoin has reclaimed the 200-week EMA at $68,000 and the 50-day SMA at $70,900, and it pushed above the symmetrical triangle’s upper trendline at $68,500. That pattern places a bullish target near $84,500, roughly 14% above the current price. The RSI sits at 60, and the next hurdle is the 100-day SMA near $80,500; a close above that level would strengthen the breakout and suggest the downtrend may be over.

Onchain data point to resistance around $83,000–$85,000, where Glassnode’s cost-basis heatmap shows investors acquired more than 898,000 BTC, equal to about 4.4% of the supply between November of last year and early February.

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