According to Bloomberg, the narrowest ever bollinger bands suggest that Bitcoin is consolidating for a major breakout.
Bloomberg remains optimistic about Bitcoin (BTC) as long as it stays above a key resistance level.
The latest report by Bloomberg analyst, Mike McGlone, contends that Bitcoin is consolidating. He speculates that due to the decreasing volatility, Bitcoin price Bollinger Bands are at its lowest point ever.
In his opinion, Bitcoin is priming to break out of the upper resistance level of $13,000. At the same time, he says that it is critical that price does not fall below $6,500