We all know that feeling, maybe you were out when the news arrived, or you were in the bathroom, or making dinner or asleep.
Bollinger Bands are a powerful technical analysis indicator created by John Bollinger in the 1980s. Bands and channels provide relative definition of high and low which can be used to identify trends and measure volatility.
Markets are brutal. It’s a zero-sum game by design – the success of one trader means failure of others. In order to survive and thrive in such conditions your personal approach to the market must not only be superior than others but also complement your personal style.
Most of the newcomers to the cryptocurrency space have a “get rich quick” mentality which contradicts basic trading strategies. It’s understandable given the “homeruns” of 50x or more that happen constantly, but it’s not for everyone and can be a recipe for disaster in the long run.
A bearish engulfing pattern shakes this thought from your head as the first signs of doubt creep in. The downward trend continues. Soon, the volume begins to dry up. You’re bleeding, but alive. What comes next?