BTC, potential for further rise in short term

BTC-potential-for-further-rise-in-short-term

This chart is applied Bollinger Bands, a technical analysis, to the short-term SOPR indicator.

Bitcoin, which has been trending upward since early 2023, mostly rebounds or rises whenever the SOPR indicator touches the lower part of the Bollinger Band. 

This phenomenon is similar to “Coin price always goes up after I sell it.” I guess all people faced this at least once.

Currently, it is possible for Bitcoin to rise further in the short term because short-term investors are currently selling at a loss and the lower part of the Bollinger Band has been reached.