Analyst says Bitcoin price will soon be do or die.

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Josh Olszewicz, a well-known cryptocurrency analyst, recently shared critical comments observations into the near future of Bitcoin prices using two technical analysis platforms: Ichimoku Cloud and Bollinger Bands. These tools highlight key moments that may shape Bitcoin’s price trajectory in the near and medium term.

Bitcoin Analysis Using Ichimoku Cloud

In the first chart showing the daily Ichimoku Cloud, Olszewicz highlights a critical moment for Bitcoin as it moves through this composite indicator. Known for providing support and resistance levels as well as momentum and trend direction, the Ichimoku Cloud shows Bitcoin trading near the edge of the cloud. This is crucial because a break above the cloud can suggest a bullish outlook, while a dip below the cloud often signals bearish momentum.

Bitcoin Analysis Using Ichimoku Cloud | Source: X @CarpeNoctom

Olszewicz highlights the do or die scenario for Bitcoin here. Bitcoin’s price, last recorded at $64,570 on the chart, is approaching the edge of the cloud. “Nobody likes an ultimatum, but very soon in the daily BTC cloud, it’s decision or die,” he warned.

An crucial aspect of the Ichimoku Cloud chart is the relationship between Tenkan-Sen (red line) and Kijun-Sen (blue line). Tenkan-Sen, the short-term moving average, remains above Kijun-Sen, the long-term moving average, indicating positive momentum in the compact term.

Weekly Bollinger Bands Analysis

Turning to the weekly chart with Bollinger Bands, Olszewicz discusses another potential inflection point. Bollinger Bands serve as a measure of volatility – narrow bands suggest low volatility, while wider bands indicate higher volatility. The Bitcoin chart shows a tightening of these bands around the current price level, which can precede a significant price move often referred to as a “tightening of the Bollinger Bands.”

Bitcoin Bollinger Band Analysis
Bitcoin Bollinger Band Analysis | Source: X @CarpeNoctom

The fact that Bitcoin is hovering just above the midline (20-period moving average) of the Bollinger Bands at $64,238 indicates an uncertain balance between buying and selling forces. However, narrowing bands is particularly noticeable because it can lead to a decisive breakout or breakdown, depending on other market factors and investor sentiment.

If Bitcoin breaks below the midline, further support can be found in the lower Bollinger Band, currently located around $51,792, which could mean a significant price drop. Conversely, if Bitcoin rebounds from the midline and gains upward momentum, it could head towards the upper Bollinger Band at around $76,684, indicating a potential upside.

The analyst points out that understanding the consequences of a tightening Bollinger Band may be crucial for traders because such periods of low volatility often end with keen price movements. “If you didn’t like Cloud’s ultimatum, here are the weekly BBbands,” Olszewicz noted.

Both charts, although using different analytical tools, converge on a similar narrative: Bitcoin is at a potential turning point that could determine its price action for the coming days or weeks. The current levels near the upper limits of both the Ichimoku Cloud and Bollinger Bands highlight the market tension.

At the time of publication, the price of BTC was $65,494.

Bitcoin price
BTC price, 1-week chart | Source: BTCUSD on

Featured image created with DALL·E, chart from


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