Bitcoin’s daily chart is showing what John Bollinger describes as “a little classic technical analysis”: a solid base formation, followed by a Bollinger Band squeeze and an upward breakout. This pattern suggests potential targets of $100,000 and then around $107,000, provided the price maintains its momentum and doesn’t fall back into its previous trading range.
Could Bitcoin Rebound to $107,000 Next?
“Near perfect base for BTCUSD with a Bollinger Band Squeeze and breakout,” Bollinger commented alongside the chart. “First upside target 100,000, second ~107,000, third ??? If we fail here it is back into the trenches.”
On the daily chart, Bitcoin spent much of the later part of the year establishing a sideways-to-slightly-higher base after a sharp selloff in the fourth quarter. This “Base” region is clearly marked, showing price consistently finding support in the low-to-mid $80,000s before moving higher. This basing phase is important because it set the stage for volatility to compress.
The squeeze is evident in the Bollinger BandWidth indicator at the bottom of the chart, which dipped to a notable low labeled “Squeeze” before starting to rise. This shift coincides with a sharp increase in the %B indicator, which broke above the 1.0 line—a signal that the price has moved above the upper Bollinger Band. Bollinger marks this point as the “Breakout,” with the price chart showing an acceleration upward as the bands begin to widen.
In the chart, Bitcoin is trading at $94,484, with the upper band curving higher and the middle band rising beneath the price. Essentially, the market has transitioned from compression to active expansion.
Bollinger’s chart highlights two horizontal red target levels above the current price: the first at $100,000 and the second near $107,000.
The risk is also clearly noted. “If we fail here it is back into the trenches,” Bollinger wrote, implying that if Bitcoin loses this breakout level, it could fall back into the prior base region, which is capped around $93,500. This level is critical in his analysis.
What About ETH and XRP?
Bollinger also commented on the broader crypto market. Regarding Ethereum, he noted, “Someone asked about ETHUSD. Same pattern, a bit delayed, following not leading,” positioning it as a lagging asset rather than a market leader.
For XRP, his view was more cautious despite its recent strength. “And ripple, strong lift, but the pattern is weaker. BTC > ETH > XRP for now.”
At the time of writing, Bitcoin is trading at $93,325.
Frequently Asked Questions
FAQs John Bollinger Bitcoins Bollinger Band Squeeze
Beginner Questions
Q1 Who is John Bollinger
A1 John Bollinger is a famous financial analyst and the creator of the Bollinger Bands a popular technical analysis tool used to measure market volatility and identify potential price trends
Q2 What are Bollinger Bands in simple terms
A2 Think of them as a dynamic price channel A middle line is flanked by an upper and lower band These bands expand when the market is volatile and contract when its calm often foreshadowing a big price move
Q3 What is a Bollinger Band Squeeze
A3 Its when the upper and lower bands move very close together This indicates extremely low volatility and is often a sign that the market is coiling up and preparing for a significant breakout either upward or downward
Q4 What does the breakout to 107000 mean
A4 Analysts observing the squeeze on Bitcoins chart believe the subsequent upward price movement could have a technical price target around 107000 This is a projection not a guarantee based on the scale of the breakout from the squeeze pattern
Q5 Is this a sure thing for Bitcoins price
A5 No Technical analysis like this identifies probabilities and possibilities not certainties Its a tool for assessing potential scenarios not a crystal ball Always consider other market factors and do your own research
Intermediate Advanced Questions
Q6 How is the 107000 target calculated from a squeeze
A6 Targets are often estimated using the depth of the preceding consolidation or by measuring the initial impulsive move from the breakout point and projecting it upward The 107k figure likely comes from applying such a measured move technique to the specific squeeze pattern on Bitcoins chart
Q7 What are the key things to watch for after a squeeze is identified
A7 The most critical element is confirmation You want to see a strong candlestick close outside of the bands preferably on high volume A false breakout is a common risk