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Title: Bitcoin and RSI Analysis - Since 2011 Post by: ImThour on February 16, 2022, 05:08:44 PM No. of Times RSI went Below 30 on Weekly: 3
No. of Halvings in BTC Till Now: 3 White Vertical Line represents when RSI went below 30 or equivalent to 30. Red Vertical Line represents Halving. N.B.: This is a weekly chart, so halving date might be different as it counts weekly candles. 1st: - RSI Below 30: 14th Nov, 2011 - Halving: 28th Nov, 2022 - Growth from Bottom to ATH in 1st Phase: 37,152% 2nd: - RSI Below 30: 12th Jan, 2015 - Halving: 9th July, 2016 - Growth from Bottom to ATH in 2nd Phase: 8189% 3rd: - RSI Below 30: 10th Dec, 2018 - Halving: 11th May, 2020 - Growth from Bottom to ATH in 3rd Phase: 1783% Average Days Before Halving when RSI goes Below 30: 371 (1st Phase) + 546 (2nd Phase) + 518 (3rd Phase) / 3 = 478 Days So 478 Days before Predicted 4th Halving (Source: https://www.buybitcoinworldwide.com/bitcoin-clock/) brings us in First week of Dec 2022. That will be the expected time when Bitcoin RSI will be below 30 and will be the best possible buy for next 4-5 years. P.S.: It's an analysis of what happened in the past and is a prediction, NFA. Hope you will like this analysis. https://s3.tradingview.com/snapshots/y/Yx2UzTNp.png Title: Re: Bitcoin and RSI Analysis - Since 2011 Post by: GreatArkansas on February 17, 2022, 02:41:39 AM This is why Bitcoin block halving is one of the most important events on Bitcoin for me.
It's really proven since the first block halving, the chart is the example. It shows that there's not always UP for Bitcoin. Another thing is I am curious if this will be the same in the future? Like after more block halvings because we all know block halvings are approximately every 4 years, so we are not sure the price in the future it could be higher than now or below with significant huge change OR another thing is the volume (could significant increase very huge or vice versa). Title: Re: Bitcoin and RSI Analysis - Since 2011 Post by: palle11 on February 17, 2022, 09:57:40 AM The analysis is good and directional to the expectation of what movement that RSI has done in the past. Well I observe that there has been progressional move from 2011 around the halving and now in this coming halving, we don't expect any thing below the last halving calculation for RSI.
Title: Re: Bitcoin and RSI Analysis - Since 2011 Post by: ImThour on February 17, 2022, 01:56:32 PM This is why Bitcoin block halving is one of the most important events on Bitcoin for me. It's really proven since the first block halving, the chart is the example. It shows that there's not always UP for Bitcoin. Another thing is I am curious if this will be the same in the future? Like after more block halvings because we all know block halvings are approximately every 4 years, so we are not sure the price in the future it could be higher than now or below with significant huge change OR another thing is the volume (could significant increase very huge or vice versa). The analysis is good and directional to the expectation of what movement that RSI has done in the past. Well I observe that there has been progressional move from 2011 around the halving and now in this coming halving, we don't expect any thing below the last halving calculation for RSI. Let's see how it plays in the future. |
