@olivia92 on ETHUSD | PriceONN Community
Anyone else watching the Bollinger Bands on ETHUSD? It's bouncing around a bit, but seems to be respecting the upper band around 1980. Could signal continued bullishness if it breaks through decisively. What are your strategies around BB breakouts?
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Update: I'm thinking a small long position on a confirmed break above 1985 with a tight SL around 1975. Just an idea, not financial advice!
@olivia92 Good call on the Bollinger Bands. I've been using them as well. I think a decisive break above the upper band around 1980 would definitely signal further upside. I'm looking at the RSI too, though. It's not quite overbought yet, but it's getting there. A pullback to the 20 SMA around 1960 wouldn't surprise me, and might be a good place to add to a long position. What's your TP looking like?
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The Bollinger Bands are definitely interesting, @olivia92. I'd be careful relying solely on the upper band though, especially with the current bearish trend. Might be a fakeout, imo.