Bitcoin has risen rapidly in recent days, exceeding the 80 thousand dollar threshold, and reached its highest level in several months today, reaching up to $82,400. This move also attracted the attention of John Bollinger, one of the technical analysts who follows the cryptocurrency market closely. John Bollinger, the creator of the Bollinger Band indicator, shared that he now sees a positive signal for Bitcoin according to the trend model he prepared on his personal social media account.
Vote of confidence from Bollinger
John Bollinger made a current move regarding his fund “Tactica”, which he prepared for the crypto market. Bollinger announced that the fund is fully invested in Bitcoin and opened a new position during this latest rise.
John Bollinger, the developer of the Bollinger Band method, made a statement: “Our trend model gives a positive signal for Bitcoin and our fund is now fully positioned in Bitcoin.”
Among investors, the Bollinger Band indicator has stood out as a reliable data source for many years. The success of John Bollinger’s previous price predictions and his accurate predictions led to this decision being followed with interest in the market.
Bitcoin’s latest rise and critical levels
In this rapid climb of Bitcoin since the beginning of May, the price made new highs one after another and strong buying waves were seen. The increase in demand for ETFs, especially in the past weeks, was effective in pushing the price above 80 thousand dollars. According to the data of analytical platforms, the highest level of $ 82,400 was recorded during the day.
However, according to Santiment, although the Bitcoin price increased to around $ 82,800, there is still a 6 percent loss in its year-to-date return. In the evaluation made by the company, it is stated that Bitcoin must reach at least the level of $ 88,000 in order to reach the break-even point for 2026.
Market balance and resistance points
Analysis company Glassnode emphasized that the price is at a critical threshold after this rise. Bitcoin’s approach to resistance in the $85,000 range is considered a “psychological threshold” for investors. Especially investors who bought at previous peak levels are likely to sell when the price exceeds these limits.
In this ceiling region, where great supply pressure occurs, buyers will need to increase their influence in order to sustain a strong rise. Otherwise, it seems likely that the upward movement will slow down significantly and further progress will become difficult.
Despite the positive atmosphere prevailing in the market, investors who have purchased at high levels in the past want to realize their profits, which may put pressure on the price. This will be effective in redetermining the direction in the coming days.
