RE: The chart I’m watching is BTS
@cryptographic,
Bollinger Bands (BB) I am learning about this indicator, but so far I didn't get a clear picture of it when it comes to the narrow end! In this graph I could see a Narrow end of Bollinger Band (BB) and I feel it says huge price fluctuation can not be happened in this situation!
I don't know whether I am correct or wrong! If I am wrong please correct me! But I think crypto prices has another influence that we can cater by 1 WEEK graph!
It's seasonal trends! I think Feb - June is not a good time frame for cryptos! It also mean we must collect more and hold our crypto investments in this time frame! Then it begins the cycle of rising! This is my 2-4 years crypto experience! So, I believe not only BTS, STEEM also at a good depth of price and BULL trend is about to happen! (RSI indicator is saying the same thing)
Therefore, if we buy those coins at this depth, I think we made a nice investment and we can take our seeds out in December of 2018!
Cheers~
The narrowing of the BBs indicates a drop in volatility/average daily range of price movement, but it does not forecast what might happen - it only indicates what has been happening. You can then put probabilities on a continuation of the same vs a breakout. When the bands get very narrow, people start watching closely for a possible break, which, if it's going to be to the upside, getting above the mid-band is the first goal along the way. Seasonality is favorable from here into June, so don't be too surprised to see some upside action in the near term.
Yes, the weekly is also telling. RSI still above 40, which is good for BTS.
@cryptographic,
Thank you very much, your reply cleared a lot of doubts that I had about BBs! I used this indicator in Binary Option, but I failed to understand the narrow ends! Now I think I got the point! Thank you again!
Cheers~