“Bollinger Bands” Indicator Creator John Bollinger Buys Ethereum (ETH), Here's Why

Inventor of Bollinger Bands indicator John Bollinger buys ETH (Blockonomy)

JAKARTA – Veteran trader and inventor of the Bollinger Bands indicator, John Bollinger recently posted a Twitter post stating that he bought a small amount of the second largest cryptocurrency, Ethereum.

Reporting from U.Today, the person behind the “Bollinger Bands” indicator claims that his Ethereum purchase was a “trial position.” Bollinger explained that a bullish pattern on Ethereum's six-hour chart prompted him to buy ETH.

At the same time, John Bollingers warns his followers that it is not “trading in high confidence.” He also added that the timing of his ETH purchases may not be the best.

I bought a little $ethusd, a trial position, last night, with a close stop--well close for crypto... I liked the pattern on the six hour and have been looking for an entry. Not a high confidence trade and I am probably early, but toe is in and I am focused now.

— John Bollinger (@bbands) January 27, 2022

Data from Coingecko shows that as of writing ETH is trading at IDR 34,914,972, up 0.2 percent in the last 24 hours. Meanwhile, in one week, Ethereum crypto experienced a 19.3 percent decline in price.

In addition, Bollinger also encourages his followers to pay attention to Ethereum charts on the verge of correction. Ethereum's all-time high price (ATH) is at IDR 69,532,233 which was recorded on November 10, 2021. Until now Ethereum occupies the second position after Bitcoin as the largest cryptocurrency in the world.