How Low Can Bitcoin Price Go? Bollinger Bands Have an Idea

Key Points

1. Bitcoin has slipped below its 20-day average support level at around $118,100, with the next support at $116,300.

2. If the decline becomes more aggressive, Bitcoin could fall toward $112,000, aligning with the outer limit of expected volatility.

3. The weekly Bollinger Band lower limit is currently around $76,000, while the monthly lower band sits at $35,000, representing a potential technical bottom in a severe market downturn.

4. Bollinger Bands do not predict price direction but outline the upper and lower bounds of volatility based on current market conditions.