John Bollinger Puts an End to Rumors Regarding This Cryptocurrency

John Bollinger, the well-known trader and originator of the Bollinger Bands indicator, has addressed inquiries regarding his perspective on Litecoin following a discussion stirred by his recent analysis of an alternate cryptocurrency to Bitcoin.

In his observations, Bollinger highlighted how the “W” patterns on the Bollinger Bands, a benchmark of technical analysis developed by him, successfully anticipated Litecoin’s (LTC) notable price surge. The “W” pattern showcases two prominent lows resembling the shape of the letter “W” and is often indicative of an impending positive price trend when appearing within the context of Bollinger Bands.

Related

The positive outlook for an alternative cryptocurrency such as Litecoin was met with dissatisfaction from some Bitcoin supporters. They responded to Bollinger with a wave of messages declaring the eventual downfall of any cryptocurrency besides Bitcoin, with one remark emphasizing the futility of holding an asset that has depreciated against Bitcoin over a decade.

Holding?

Addressing the critiques, Bollinger clarified his view by stating that holding Litecoin indefinitely is not advisable and highlighted his proactive, technical analysis-centric trading philosophy over a passive investment strategy. According to him, despite the various uncertainties present in the markets, he prefers trading actively based on technical signals.

Related

Bollinger’s responses reaffirm his dedication to a strategy focused on trading based on market indicators, as opposed to long-term passive holding. His remarks not only shed light on his stance regarding Litecoin but also emphasize his trading ideology amid the broader discussions in the cryptocurrency sphere.