This piece of advice is consistent with Walter Diemer’s strategy, which focuses on identifying what to give up rather than what to gain.
Bollinger’s wisdom today is especially relevant in current market, which is saturated with a huge number of financial instruments. And especially in the cryptocurrency one, given its state. There are currently more than 2.4 million different crypto assets with a total market capitalization of $2.14 trillion.
Given this, and the fact that the sheer number of assets can be overwhelming for investors, Bollinger’s advice on optimizing portfolios can be very relevant.
In his latest analysis, the trader predicted further consolidation of the major cryptocurrency following the reversal of two candles on the lower Bollinger band. This prediction came true as Bitcoin initially turned around and rose 4.73%.
However, shortly after this, there was a significant drop in the price of the main cryptocurrency, which fell by 16.21% from $64,000 to $53,500 per BTC.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
