How do Bollinger Bands help identify potential buying or selling opportunities in the cryptocurrency market?

1 answers

• Barry LynchAug 18, 2022 · 3 years ago
  Bollinger Bands are widely used by traders to identify potential buying or selling opportunities in the cryptocurrency market. When the price of a cryptocurrency moves outside the upper band, it suggests that the cryptocurrency is overbought and may be due for a price reversal. Conversely, when the price moves outside the lower band, it indicates that the cryptocurrency is oversold and may be due for a price rebound. Traders often look for confirmation from other indicators, such as volume or trend lines, before making trading decisions based on Bollinger Bands signals.
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