Is Bitcoin overbought or oversold? Use Bollinger Bands to find out!
Bollinger Bands are a powerful indicator that traders use to gain clarity when the markets are rallying, consolidating and correcting. Trading is neither an exact science nor art. It is a mixture of both. There are scores of publicly available indicators and each claims to be the best. However, none of them are perfect or designed to be used in isolation.One of the more popular indicators widely used by several traders is Bollinger Bands, an indicator that can be used to spot price peaks, lows, and opportunities for shorting during exhausted rallies and buying during sharp pullbacks. Let’s....
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Bitcoin price Bollinger Bands gave way today as price rolled over and dropped through a second support level to below $450. Additional decline is now a certainty and we look at some of the technical factors at work. Bitcoin price is currently below the 4-hour 200-period moving average (red) that was identified as critical local support in analysis during this week. The breach now opens decline to a long-term Fib line support that originates at the January 2015 low, annotated in grey. The 4-hour chart’s indicators are tending to oversold territory and imply an upward correction before....
Bitcoin price is current trading at just below $30,000 after spending weeks building up pressure in a tight trading range. The lack of volatility has resulted in a technical signal that says explosive volatility is ahead, and has just begun. Even the tool’s creator has spoken up on the volatility to come. Bollinger Bands Expand After The Second-Tightest Ever The Bollinger Bands in Bitcoin are a volatility measuring tool. Because BTC is so volatile, it makes for a wild rollercoaster ride of a technical indicator. At cycle peaks when BTC is the strongest, the bottom Bollinger Band....
Since the Bitcoin price reached a new yearly high of $31,840 last week, only to invalidate the bullish breakout within a few hours and fall towards $30,000, there has been a strange tranquility in the market. Already since June 23, BTC has been in the trading range between $29,800 and $31,300, with every breakout attempt to the upside and downside having failed within a very short period of time. However, one of the most prominent technical indicators, the Bollinger Bands, predict that this calm may soon be over. Created by the esteemed trader John Bollinger, these bands provide invaluable....
Current BTC price action is no surprise given recent support and resistance focuses, says Bollinger bands creator John Bollinger. Bitcoin may have lost 35% since its all-time highs of $64,500, but its current price is actually “logical.”That’s according to veteran analyst John Bollinger, creator of the Bollinger bands trading indicator. Bollinger: Current price action "can tell a lot"In a tweet on May 18, Bollinger, who is well known as a source of Bitcoin (BTC) analysis despite decades in the market, called for calm following fresh volatility.“~43,000 is what we call a logical level for....
Bitcoin has jumped more than 4% to $456.75 as bulls take advantage of the positive technical undertone. With this, the cyptocurrency has also met our prescribed target of $458. So, should you be booking profits now? Let us find that out with the help of technical analysis conducted on a 4-h BTC-USD price chart taken from BITSTAMP. Chart Structure – Bitcoin is now threatening to take out the Triple Top resistance near $465. The resurgent bulls look in complete control of the situation. Bollinger Bands – The cryptocurrency is sustaining above the upper range of the BB, after taking support....