Legendary Trader Bollinger Issues Major Ethereum 'Warning'

Veteran Trader Bollinger Weighs in on Bitcoin's Bull Run

Cover image via U.Today

Veteran trader John Bollinger weighed in on Bitcoin's current price action after it set a new record high on Tuesday.

Bollinger's Analysis

According to Bollinger, the new highs erased a potential bearish Bollinger Band divergence. "Consolidations create potential negatives. That sort of thing is normal in up trends," he added.

Ethereum Lagging Behind

Ethereum (ETH), the second-largest cryptocurrency, has been underperforming Bitcoin recently. Bollinger interprets this as a worrying signal, stating that "it is just a warning."

Market Movements

• Bitcoin has surged by over 4% in the past 24 hours.
• Ethereum has lost 0.1% on Tuesday.
• The ETH/BTC pair reached a multi-year low of 0.033 BTC.
• Dogecoin is the only major altcoin outperforming Bitcoin, with a 10% gain in the past 24 hours.