Bitcoin (BTC) could see further upside volatility as BTC’s price revisits key levels, according to a classic technical analysis metric.
In a Dec. 18 post on X, John Bollinger, the creator of the Bollinger Bands volatility indicator, said that Bitcoin was positioned for an upward breakout.
Bitcoin Bollinger Bands could lead to a “walk up”
After hitting a new all-time high above $108,000 on Dec. 17, Bitcoin breached the upper boundary of the Bollinger Bands (BB) indicator, a barrier that has been out of reach since mid-November, data from Cointelegraph Markets Pro and TradingView shows.
This is an encouraging sign from Bitcoin, according to Bollinger. The Bollinger Bands indicator uses standard deviation around a simple moving average to determine both likely price ranges and volatility.
Over the past few days, the BTC/USD pair recorded daily candlesticks that touched the upper band of the BB. When this happens, it can signal an imminent reversal back to the center band or sudden upside volatility.
The recent push-up of the upper band by Bitcoin adds weight to hopes that the latter scenario may now play out.
“Bitcoin BTCUSD giving a Bollinger Band tutorial,” Bollinger commented alongside a chart.
“A classic Bollinger Band Squeeze leads to a walk up the upper band.”
BTC/USD 1-day chart with Bollinger Bands. Source: John Bollinger/TradingView
The possibility of Bitcoin moving higher from the current price has resulted in some ambitious new BTC price targets for 2025 and beyond.
Bitcoin price may hit $350,000 in 2025
According to Mauricio Di Bartolomeo, co-founder of Ledn, Bitcoin will continue to increase in value as measured in gold, eventually reaching the price equivalent of 50 ounces of gold per BTC.
“I believe Bitcoin will continue to appreciate in gold terms and will reach a price equivalent to 50 oz of gold,” Bartolomeo wrote in a Dec. 19 article on Forbes.
This would equate to a BTC price of $132,500 at current rates.
He said, “I expect to see a slew of portfolio recommendations coming out of ETF issuers’ research desks and registered investment advisors,” recommending to their clients to…
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