Bollinger Bands???
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These are a technical analysis tool used to measure market volatility and identify potential price trends. They consist of three lines:
1. Middle Band: A simple moving average (SMA) of the asset's price.
2. Upper Band: The middle band plus a multiple (typically 2) of the standard deviation.
3. Lower Band: The middle band minus the same multiple of the standard deviation.
💵 Key Uses:
🟠Overbought/Oversold Levels: Prices near the upper band may indicate overbought conditions, while those near the lower band may indicate oversold conditions.
🟠Volatility Measure: Bands expand during high volatility and contract during low volatility.
🟠Trend Identification: Price consistently breaking above or below the bands may signal a strong trend.