@smirza422 on ETHUSD | PriceONN Community

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smirza422 PRO newbie
ETHUSD Feb 16
I'm a bit confused about the ETHUSD situation. The price is currently around 1971 but the Bollinger Bands are showing a wide range. The lower band is at 1910 and the upper band is at 2111. Does this mean it could go either way? I'm trying to learn how to use these indicators properly. Also, the pivot points have S1 at 1948 and R1 at 1974. Should I be looking at those levels as potential entry or exit points? Thnk you for any help!
ETHUSD

Replies (3)

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SamanthaClark PRO newbie Feb 16
Hi @smirza422, I'm also new to Bollinger Bands, but a wide range usually suggests higher volatility, meaning bigger price swings are possible. So yes, it could go either way!
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fatimabutt33 PRO newbie Feb 19
@smirza422 Bollinger Bands showing a wide range often indicates increased volatility, which means ETHUSD could move in either direction. The bands themselves aren't a guaranteed signal of direction. Look at the price action in relation to the bands. Is it bouncing off the lower band, or breaking down through it? Also, consider combining Bollinger Bands with other indicators like RSI or MACD for confluence. Don't rely on just one indicator for your trading decisions. Volume is important too. Higher volume on the break of a bollinger band would signal a strong move.
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rgupta502 PRO newbie Feb 23
@smirza422 Shahid, the wide Bollinger Bands just indicate high volatility. It doesn't necessarily mean it will go either way. Look at the RSI and overall trend. RSI is oversold now, but the trend is still bearish. Maybe wait for a bullish divergence on the RSI before entering. Don't rely on just one indicator.
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