John Bollinger, nicely generally known as a dealer and the creator of the Bollinger Bands indicator, has just lately responded to questions on his views on Litecoin. This was in response to the discussions that adopted his newest ideas on the worth motion of Bitcoin’s various.
Bollinger seen that the Bollinger Band “W” patterns, a technical evaluation software he created, precisely predicted the current worth will increase of Litecoin (LTC). The “W” sample is a chart formation the place the worth varieties two distinct lows that resemble the letter “W” earlier than a major upward transfer. This sample usually indicators a possible bullish development when it reveals up on the Bollinger Bands.
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Such moderately bullish sentiment towards an altcoin triggered displeasure amongst Bitcoin maximalists, who started to flood Bollinger’s replies with messages that every little thing is irrelevant as a result of every little thing in opposition to BTC goes to zero. One remark steered that holding any asset that’s shedding worth in opposition to Bitcoin for a decade is irrational.
Holding?
Bollinger responded to the criticism by explaining his stance. He mentioned it isn’t a good suggestion to carry onto Litecoin perpetually and defined his buying and selling method in a sensible manner. He mentioned that whereas markets could face varied challenges, his technique is to commerce based mostly on technical evaluation moderately than holding belongings passively.
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Bollinger’s feedback present that he’s dedicated to a buying and selling technique pushed by market indicators moderately than long-term holding. This response not solely clarifies his place on Litecoin but in addition reinforces his buying and selling philosophy amid ongoing debates throughout the crypto neighborhood.
