I noticed a pattern after the all time low on Aug.15/18 at 0398 sats
I am using the daily time frame, an RSI of 33 or lower and the days between initial bottom Aug.15 and the next bottom and so on. I drew a lower and an upper trend line and used candle bodies for the lines as close as I could. Also OST/BTC pn Binance.
It took 100 days before the first RSI bottom, the subsequent spike high and the retrace to the next RSI bottom. It then took 50 days for the bottom, spike high, and retrace afterwhich it took 23 days for the next series. The next which brings us to Feb 24 is 16 days.
THe percentages of profit if bought in at RSI lows were:
Aug.16 buy in at RSI 31.5 to profit is 126%
100 days
Nov.24 buy in at RSI 27.4 to profit is 49%
50 days
Jan.13 buy in at RSI 32.5 to profit is 32 %
23 days
Feb.5 buy in at RSI 32.9 to profit is 16.5%
I used this as an exercise to help in my understanding of price action and RSI as well as I simply found the chart interesting while going through my list. I will go through other coins to see if there is any other correlations with time to profit and a diminishing scale of time and profit.
I am using the daily time frame, an RSI of 33 or lower and the days between initial bottom Aug.15 and the next bottom and so on. I drew a lower and an upper trend line and used candle bodies for the lines as close as I could. Also OST/BTC pn Binance.
It took 100 days before the first RSI bottom, the subsequent spike high and the retrace to the next RSI bottom. It then took 50 days for the bottom, spike high, and retrace afterwhich it took 23 days for the next series. The next which brings us to Feb 24 is 16 days.
THe percentages of profit if bought in at RSI lows were:
Aug.16 buy in at RSI 31.5 to profit is 126%
100 days
Nov.24 buy in at RSI 27.4 to profit is 49%
50 days
Jan.13 buy in at RSI 32.5 to profit is 32 %
23 days
Feb.5 buy in at RSI 32.9 to profit is 16.5%
I used this as an exercise to help in my understanding of price action and RSI as well as I simply found the chart interesting while going through my list. I will go through other coins to see if there is any other correlations with time to profit and a diminishing scale of time and profit.