INVITE-ONLY SCRIPT
Bitcoin Logarithmic Price Bands
Updated
Bitcoin has been trending up with time. Generally, Bitcoin has been following an increasing logarithmic path, as seen on the chart. This indicator tries to plot areas of buying or selling opportunity. The green area contains data from times when Bitcoin was extremely undervalued. The red area is calculated from times where Bitcoin was extremely overvalued. The logarithmic bands will increase with time, so the values are not static.
Generally speaking, buy when the price is in the green area and sell when the price is in the red area.
The model doesn’t contain ANY data from after November 2020. Nevertheless, it correctly predicted the area where Bitcoin topped in April 2021.
In addition, the yellow logarithmic band manages to indicate strong areas of support or resistance. So did it correctly indicate the top of the mid-cycle peak in 2013, the bottom after the first sell-off in Feb 2018, the 2019 top and at last the mid-cycle bear-market from May-June 2021.
This study will be updated once or twice per year to add new data to the calculation. This means that the logarithmic bands will look slightly different in the future compared to now. Nevertheless, the bands add valuable information on buying or selling opportunities in the market.
The indicator is only useable on the Bitcoin/Dollar index by Tradingview, weekly timeframe.
For access, please take a look at the "Author's Instructions" below.
Generally speaking, buy when the price is in the green area and sell when the price is in the red area.
The model doesn’t contain ANY data from after November 2020. Nevertheless, it correctly predicted the area where Bitcoin topped in April 2021.
In addition, the yellow logarithmic band manages to indicate strong areas of support or resistance. So did it correctly indicate the top of the mid-cycle peak in 2013, the bottom after the first sell-off in Feb 2018, the 2019 top and at last the mid-cycle bear-market from May-June 2021.
This study will be updated once or twice per year to add new data to the calculation. This means that the logarithmic bands will look slightly different in the future compared to now. Nevertheless, the bands add valuable information on buying or selling opportunities in the market.
The indicator is only useable on the Bitcoin/Dollar index by Tradingview, weekly timeframe.
For access, please take a look at the "Author's Instructions" below.
Release Notes
- New BTC data has been added from before 2011. This caused the script not to work properly anymore.- Bottom green bands have been optimized.
- Top red band now includes the 2021 top to calculate the future value.
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact FieryTrading for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Author's instructions
″Visit my website for access: https://www.fierytrading.com/
Want to use this script on a chart?
Warning: please read before requesting access.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.