Following a few days of dancing in a tight range mainly between $8,600 and $8,700, Bitcoin dived under $8,300. The losses stopped at $8,269 before reversing briefly above $8,300. At the time of writing, Bitcoin is trading at $8,309 and features a bullish trend with shrinking volatility according to the cryptocurrencies live rates table.
In spite of the breakdown key analysts such as Tom Lee of Fundstrat and John Bollinger, the creator of the Bollinger Bands indicator believe that the pullback is healthy and there is no course for alarm. Bollinger said via a tweet: