Some statistics for BTC Daily and Weekly Candles, Day of Week Patterns, etc.
Data from BTCUSD Bitstamp Pair Jan 01, 2018 to Aug 07, 2022
Total Weeks = 240 Total Days = 1680
Range = 100*(High-Low)/Open
- Weekly Range < 10% for ~25% weeks - Range b/w 10-20% for 50% weeks - Range > 20% for 25% weeks
Return = 100*(Close-Open)/Open
- Weekly Return = 53% weeks - Return < 0 = 47% weeks
- Return b/w -5 and 5 % for ~46% weeks - Returns b/w -10 and 10% for ~69% weeks
HOW/LOW Distribution by Day of the Week
Avg Log Daily Return for different days of the week during the period.
Thursdays suck pretty bad. Buy Friday Sell wednesday outperformed Buy & Hold by around 4X during the period.
Daily Range as per Day of the Week
Daily Returns vs Day of Week
Daily return on Sat & Sun are b/w -2 & 2% around 63 % of the time - b/w -4 and 4% around 85% of the time.
Highest / Lowest return days rarely happen during the weekend
Correlation b/w returns as per Day of the Week. Not much to see here imo
This post is based on this twitter thread.