Binary options give you the chance to bet on the direction of the market.
Basically you bet that price will be above or below a certain price level at the end of a certain time period.
If you think that price will be above a certain level, you buy a call option.
If you think that price will be below a certain level, you buy a put option.
Technical analysis for trading binary options is almost the same as for forex trading.
This video explains in detail how you are going to use Bollinger Bands in trading binary options.
The focus is on ensuring that price ends above or below a certain level after expiry of certain time period.