I think RSI and PVT work best at daily scale in this market
Daily RSI is not in oversold zone either yet.
Topic: Weekly RSI and PVT (go to FPGA mining) - page 2. (Read 2926 times)
Daily RSI is not in oversold zone either yet.
Much as minute by minute view of RSI is not much more than noise, weekly view of RSI or PVT is also noisy due to short timescale of entire lifetime of BTC and the rate of change in market place.
I think RSI and PVT work best at daily scale in this market. But I'm no day trader, just looking to accumulate a bigger long position at good prices, to hold indefinitely.
Just my 2 cents.
I think RSI and PVT work best at daily scale in this market. But I'm no day trader, just looking to accumulate a bigger long position at good prices, to hold indefinitely.
Just my 2 cents.
RSI on your chart never even approached overbought
That's because we didn't end the correction from $30.
Someone decided to provoke the second rally, but failed.
So bitcoin should continue to drop in value to meet it's true price.
so any drops should not be anywhere near as severe.
Some devastating event can be already in the way.
For example like design bug of new OP_EVAL opcode in bitcoin 0.6 client.
Keep dreaming.
Oh, I can do!
Look at the PVT graph. Right now it shows the same tops as when we were at $30.
This mean that $7 is a new local top.
And in principle we can go 95% down as in previous time.
This will give us ~$0.5 per BTC
This will be ok for FPGA miners, because they spent only $0.35 per BTC for energy and maintenance (and the difficulty will be lower than now).
Im afraid the numbers you are looking at are reactionary and not necessarily indicative of future performance. I don't see any similarities except PVT is down slightly due to the drop in price (reactionary). RSI on your chart never even approached overbought so any drops should not be anywhere near as severe.
Keep dreaming.
Oh, I can do!
Look at the PVT graph. Right now it shows the same tops as when we were at $30.
This mean that $7 is a new local top.
And in principle we can go 95% down as in previous time.
This will give us ~$0.5 per BTC
This will be ok for FPGA miners, because they spent only $0.35 per BTC for energy and maintenance (and the difficulty will be lower than now).
Riiiiiiiiiight... All two or three of the FPGA miners. Regular miners would shut down en masse, causing the network to become extremely delayed and susceptible to 51% attacks... The end is nigh.
Keep dreaming.
Oh, I can do!
Look at the PVT graph. Right now it shows the same tops as when we were at $30.
This mean that $7 is a new local top.
And in principle we can go 95% down as in previous time.
This will give us ~$0.5 per BTC
This will be ok for FPGA miners, because they spent only $0.35 per BTC for energy and maintenance (and the difficulty will be lower than now).
Weekly RSI is not in "oversold" zone yet. Let's go below $1
Keep dreaming.
Weekly RSI is not in "oversold" zone yet. Let's go below $1
Look at the PVT graph. Right now it shows the same tops as when we were at $30.
This mean that $7 is a new local top.
And in principle we can go 95% down as in previous time.
This will give us ~$0.5 per BTC
This will be ok for FPGA miners, because they spent only $0.35 per BTC for energy and maintenance (and the difficulty will be lower than now).
This mean that $7 is a new local top.
And in principle we can go 95% down as in previous time.
This will give us ~$0.5 per BTC
This will be ok for FPGA miners, because they spent only $0.35 per BTC for energy and maintenance (and the difficulty will be lower than now).
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