John Bollinger: Bitcoin BB Squeeze Breakout Targets $107,000

John Bollinger identifies a classic technical analysis pattern on Bitcoin's daily chart, suggesting a potential price surge. This pattern includes a well-defined base formation followed by a Bollinger Band Squeeze and a subsequent upside breakout. The breakout indicates potential price targets of $100,000 and approximately $107,000 for Bitcoin. Bitcoin's price spent considerable time building a sideways base after a significant Q4 decline, serving as the foundation for the upcoming volatility. The Bollinger BandWidth indicator shows a marked decline, indicating compression which then turns up, coinciding with %B crossing above 1.0, signifying a breakout. Bitcoin is currently priced at $94,484, and the upper Bollinger Band is curling upwards demonstrating active expansion, and signaling potential for further upward movement. Bollinger emphasizes that the price must sustain the breakout to maintain this upward trajectory. He flags a return to the base region if the breakout fails, highlighting the importance of current price levels. Ethereum is seen as following the same pattern but with a slight delay relative to Bitcoin. Bollinger views XRP's lift as less robust compared to Bitcoin and Ethereum. Bollinger's analysis underscores the importance of the breakout's validation in future price movements. He places the utmost importance on these current levels, setting the stage for either substantial gains or a retracement.