Bitcoin’s Price Action Suggests Potential Reversal: Key Indicator Signals Bottom

A recent analysis suggests that Bitcoin (BTC) might be finding a bottom based on its price action this week. The cryptocurrency has been bouncing off the lower Bollinger Band for the past three weeks, and this repeated interaction with the lower boundary could indicate that selling pressure is easing. This pattern is noteworthy as it aligns with the traditional function of the Bollinger Bands, which help traders estimate volatility and potential price extremes.