Veteran trader and inventor of the ‘Bollinger Bands’ indicator, John Bollinger, made a statement that will upset investors. bollinger, Litecoin(LTC), referring to a once promising installation, with its bad end announced.
He made a statement stating that after Litecoin’s ‘long-term squeeze’, contrary to expectations, ‘fos could arise’. Bollinger stated that he did not like long-term technical setups for this reason and did not please the investors.
Bollinger Band A squeeze is a setup that occurs when an asset’s price volatility drops to lows and the lower and upper bands of the technical indicator narrow. Typically, such tightening is considered a precursor to breakage.
According to J. Bollinger, prolonged compression is not as effective as the average compression pattern.
“I’m not stating that long-term jams don’t work. They just aren’t as good as the ‘squeeze-and-go’ model I prefer.”
Koinfinans.com As we previously reported, Litecoin has traded between about $67 and $46 since June. Litecoin is trading at $51.16 at the time of writing.
About a week ago, Bollinger stated that Litecoin was potentially a ‘fraud’ on the daily chart.
A ‘head fake-out’ occurs when the price of an asset moves in a certain direction, but then reverses and reverses.
A follower who commented on why the Litecoin price was stuck also drew attention. According to the follower, the reason for this jam is BTC and ETH. J. Bollinger stated that he was against this idea. Both coins are trading in the range, according to the trader.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.