BITCOIN Bollinger Squeeze attracting Bulls for 100k and above!

Bitcoin (BTCUSD) is about to test the bottom of the Bollinger Bands (BB) on the 3D time-frame for the first time in 3 months (since January 25). Right now the squeeze between the BB basis (blue line) and the bottom (green line) is extremely tight and since the start of 2023 this has been fairly accurate bottom call.

The trend since the November 2022 bottom has been parabolic (green parabola) and thus is most efficiently displayed by the use of the Fibonacci Channel extension levels. After breaking above the 1.0 Fib on the February 12 2024 candle, the recent All Time High (ATH) in mid March 2024 broke even above the 1.5 Fib. Technically on the new Bullish Leg that is about to start after the current squeeze attracts as many buyers as possible, we should reach at least (most likely even break it) the 2.0 Fib.

$110000 is a very realistic target under these conditions and we shouldn't neglect to mention also the BB Width (BBW) consolidating on its bottom, which again is related to high bullish activity and accumulation when performed on the BB green line.

But what do you think? Is this squeeze about to make bulls accumulate and break aggressively to the upside? Feel free to let us know in the comments section below!

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