John Bollinger on Market Insights and Trading Strategies
Recently, there have been discussions around the views of a prominent trader and the creator of the Bollinger Bands indicator on Litecoin. This trader noticed that the Bollinger Band « W » patterns accurately predicted recent price increases in Litecoin (LTC).
The « W » pattern is a technical analysis tool that signifies a potential bullish trend when it appears on the Bollinger Bands. It consists of two distinct lows resembling the letter « W » before a significant upward price movement.
However, this positive sentiment towards Litecoin caused some discontent among Bitcoin maximalists. They flooded the trader’s responses with messages claiming that everything that goes against Bitcoin is destined to fail. One argument stated that holding any asset that loses value against Bitcoin for a decade is irrational.
In response to these criticisms, the trader clarified his stance by emphasizing the importance of trading based on technical analysis rather than holding assets passively. He stated that while markets may encounter challenges, his strategy revolves around making informed trading decisions guided by market signals.
Overall, this trader’s comments highlight a commitment to a trading strategy centered on market insights and active decision-making rather than long-term holding. This approach not only sheds light on his perspective regarding Litecoin but also underscores his trading philosophy in the midst of ongoing discussions within the cryptocurrency community.
Source : u.today