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.