OPEN-SOURCE SCRIPT
Updated Bitcoin Price Temperature: Weekly Timeframe
Use this oscillator at weekly timeframes:
The Bitcoin Price Temperature (BPT) is an oscillator that models the number of standard deviations the price has moved away from the 4-yr moving average. This seeks to establish a mean reversion model based on the cyclical nature of Bitcoin halving and investment cycles. The BPT bands then establish price levels that coincide with specific standard deviation multiples to identify fair and extreme valuations.
Coined By:
DilutionProof
Interpretation:
Values above 6 indicate extremely high price areas: (TOP OF THE MARKET)
Areas below 0.2 indicate extremely low price areas: (BOTTOM OF THE MARKET)
The Bitcoin Price Temperature (BPT) is an oscillator that models the number of standard deviations the price has moved away from the 4-yr moving average. This seeks to establish a mean reversion model based on the cyclical nature of Bitcoin halving and investment cycles. The BPT bands then establish price levels that coincide with specific standard deviation multiples to identify fair and extreme valuations.
Coined By:
DilutionProof
Interpretation:
Values above 6 indicate extremely high price areas: (TOP OF THE MARKET)
Areas below 0.2 indicate extremely low price areas: (BOTTOM OF THE MARKET)
Release Notes
fixed for weekly timeframeRelease Notes
fixed for weekly timeframeRelease Notes
Chart Updated
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. You can favorite it to use it on a chart.
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