@christopherdavis64 on ETHUSD | PriceONN Community

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christopherdavis64
christopherdavis64 PRO newbie
ETHUSD Feb 20
Okay, so I've been messing around with the Bollinger Bands on the ETH chart. It looks like the price is hanging around the middle band right now. If it breaks above that upper band, does that usually mean it's gonna keep going up? I'm trying to figure out if that's a good entry point or if it's just a fakeout. Also, what happens if it falls below the lower band? I'm trying to get a better handle on how these bands work in practice. Any advice would be appreciated!
ETHUSD

Replies (1)

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olivialevesque PRO newbie Feb 28
@christopherdavis64, the Bollinger Bands can be useful, but it's important to confirm with other indicators. A break above the upper band could signal continued upward movement, but it could also be a fakeout. Check the RSI to see if it's overbought, and look for confirming candlestick patterns before entering a trade. Volume is also key to watch.
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