Bollinger Bands, one of the most commonly used indicators in technical analysis. Here's a summary of how they work. Learn more ➡️
In essence, the Bollinger Bands function as a measurement tool of market oscillations. As such, the BB indicator can be used to identify the moments that a particular market presents high or low. Also, they can be useful for spotting potential overbought or oversold market conditions.
The BB indicator consists of two sidelong bands and a middle line. These three elements indicate how prices more around an average value, which is represented by the middle band. The upper and lower bands expand when market volatility is high, and contract when market volatility is low. They either move away from the middle band or towards it .
The Bollinger Bands are among the most used TA indicators, especially in traditional financial markets. However, they are also used by cryptocurrency traders. Still, BB should not be used as a stand-alone tool but rather in conjunction with other TA tools and indicators, to decrease the overall risks..
For instance, imagine that the price of an asset moves from below the middle line all the way up to the upper band, surpassing it. This would indicate a potential overbought condition. The same reading logic applies to the opposite side. If an asset’s price exceeds the lower band, it may be indicative of oversold conditions. The upper and lower bands may also suggest potential
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