Bitcoin Bollinger Bands | Weekly & Monthly

5 thg 12, 2020

I just remembered the Bollinger Bands and decided to look at this indicator for Bitcoin on the monthly and weekly timeframe.

I've shared a bearish perspective on both timeframes.

Here we start with the monthly chart for BTCUSD... Notice the bands:

The current price for monthly BTC is outside the upper band... This can signal of an upcoming drop.

Now, let's look at it weekly.


Here, BTCUSD is still within the band but right at the edge of the upper side, so the stronger signal is coming out of the monthly chart.

In conclusion, this indicator is showing us the potential for a correction to take place.

This is just one indicator and additional signals are needed to support this one.

Time will tell though but we are surely seeing some mixed signals develop on the higher Bitcoin timeframes.

Thanks once more for taking the time to read.

Namaste.