What are the recommended Bollinger Bands settings for analyzing cryptocurrency price movements?

1 answers

• Jan 20, 2022 · 3 years ago
  At BYDFi, we recommend using a 20-day simple moving average (SMA) and two standard deviations for Bollinger Bands when analyzing cryptocurrency price movements. These settings have been found to be effective in identifying potential trends and price reversals. However, it's important to note that Bollinger Bands are just one tool among many in technical analysis. It's always a good idea to combine Bollinger Bands with other indicators and analysis techniques to get a more comprehensive view of the market. Remember, no single indicator can guarantee accurate predictions in the cryptocurrency market.
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