Legendary technical analyst John Bollinger, the inventor of Bollinger Bands, spoke out after the Bitcoin price broke its latest all-time high price record.
According to the analyst, the recent record zeroes out the possibility of a potential negative Bollinger Band divergence on the BTC chart. According to the analyst, the recent consolidation in price has created a negative situation, which is a normal phenomenon in uptrends.
On the other hand, the analyst also made a statement about a topic that concerns him about the cryptocurrency market. The analyst finds it worrying that the world's largest altcoin, Ethereum, did not participate in the rising wave. He stated that the situation is still a warning in its current form, but that it would be more comfortable for him if this rising wave included all major cryptocurrencies.
The reasons for the recent rise in the Bitcoin price include cryptocurrency-friendly Donald Trump winning the US elections, claims that Elon Musk will have a say in the administration, and rumors that Bitcoin Spot ETF options trading will begin. On the other hand, the BTC price has gained approximately 6% in the last seven days.
*This is not investment advice.