Lower Bollinger Band Signals Further Declines

• The current trend shows consolidation after a prolonged bearish phase. The middle Bollinger Band could act as dynamic resistance or support, depending on the breakout direction.
  
• Narrowing of the Bollinger Bands suggests lower volatility, often a precursor to a significant price move.
  
• A break above $1,700 could confirm a bullish reversal.
  
• A drop below $1,200 may signal continued bearish pressure.
  
• A breakdown below the lower Bollinger Band could indicate further declines.
  
• Target levels: $1,200, $1,000.