A very very basic overview on rebalancing would be that it protects you from volitilty of one asset.
and it is producing a small profit in the long run and outperforms a buy and hold strategy. This is because you are always selling higher than you have bought. Its only a small amount because only a tiny fraction of your BTC is bought or sold on every step but if BTC price is very volatile and does two digit percent changes every single day and huge ups and downs this can become significant quite fast.
Its a very conservative strategy and probably one of the few strategies that can cannot accidentally burn all your money in one night if the bot is crashing/hanging while you are sleeping.
Maybe we could make a separate forum thread where people post their bots and discuss them.