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Analyst: Bitcoin Bollinger Band range squeezes to 7.7%, upward breakout momentum strengthens
On July 8, CryptoQuant analyst Axel Adler Jr posted that "a typical Bitcoin Bollinger Band squeeze has been observed, with the range between the upper and lower boundaries dropping to 7.7%, one of the lowest values in the entire bull run cycle. The decrease in volatility indicates that the market is accumulating energy, and the price is ready to pump. The likelihood of a breakout to the upside in an upward trend environment is significantly higher. There have been six significant Bollinger Band squeeze events in this bull run. Four times a pump occurred immediately after the squeeze, while in the other two cases, there was a slight pullback first, followed by a rise. Based on this experience, the current squeeze is likely to indicate another upward surge, although a small consolidation may occur before the pump is also not ruled out."