Analysis: Bollinger Bands close to the extremely narrow range of history, Bitcoin needs to break through the resistance of $80,000

According to Cointelegraph, the Bitcoin monthly Bollinger Band has closed to the tightest level in history, and technical signals indicate that the market may experience major fluctuations. The report pointed out that if Bitcoin wants to further open up its upside, it needs to first break through the resistance around US$80,000. At the same time, Bitcoin's monthly RSI has dropped to a low since the end of 2022 and once again hit the multi-year support trend line. Market data shows that there is strong selling pressure in the range of US$78,000 to US$80,000; if the resistance zone of US$76,000 to US$78,000, the price may further test up to US$84,000.