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Use Bollinger Bands to Set Bitcoin Stop Loss Levels

How to Set Bitcoin Stop Loss with Bollinger Bands Indicator in Trading

Set Bitcoin Stop Loss with Bollinger Bands Indicator

Bollinger Bands Crypto Indicator

Bollinger Band bitcoin indicator use standard deviation as a measure of bitcoin market price volatility. Since standard deviation technical indicator is a measure of the market volatility, the Bollinger bands are self-adjusting meaning they widen during periods of higher bitcoin price volatility & contract during periods of lower bitcoin price volatility.

Bollinger Bands consist of Three Bollinger bands designed to encompass the majority of a instruments bitcoin price action. The mid band is the basis for the inter-mediate market trend, mostly it's a 20 day period simple moving average, which also serves as the base for calculating the upper band & lower band. The upper band's and the lower band's distance from the middle-band is determined by the price volatility.

Given that Bollinger Bands enclose the price action of bitcoin, they can be effectively utilized to place stop-loss orders for bitcoin just outside the outer perimeter of the Bollinger Bands.

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