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Lower Bollinger Band Signals Further Declines

  • The current trend shows consolidation after a prolonged bearish phase. The middle Bollinger Band could act as dynamic resistance or support, depending on the breakout direction.
  • Narrowing of the Bollinger Bands suggests lower volatility, often a precursor to a significant price move.
  • A break above $1,700 could confirm a bullish reversal.
  • A drop below $1,200 may signal continued bearish pressure.
  • A breakdown below the lower Bollinger Band could indicate further declines.
  • Target levels: $1,200, $1,000.
Sahrin
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Technical IndicatorsTrend Analysis
Sahrin
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