Bitcoin Price Faces Potential 7% Drop Amid Bearish Bollinger Band Signal 📉
Bitcoin (BTC) is at risk of a significant price correction, as indicated by technical analysis tools. The Bollinger Bands, which use the 20-day moving average and standard deviations, show BTC's position below the middle band on the daily chart. This could indicate a potential downturn.
If Bitcoin closes the day beneath this critical level, a 7% decline toward the lower Bollinger Band is possible, bringing BTC just below $78,000. However, if Bitcoin rebounds above the 20-day moving average, it might avert this downturn.
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