Very Similar to the Bearish Log Scale Butterfly i found on Bitcoin. This setup however does not have the best risk to reward due to the high volatility of this coin. i suggest that if you trade it not to risk a huge amount of cash.
TVC:SPX using a log chart I channeled the market since it's inception. The top of the channel (in red) is exclusively where the major stock market crashes have happened. The bottom channel (in green) is "crash free." The bold purple line is where 3 of last 4 market crashes have happened. Since the "Nixon Shock," $spx has failed to breach this line, except during...
If you are not watching on log scale and you think this is blow off top, watch next few months best pump of your entire life.
Seriously, what do you call it? Normally, exponential increases (x^2) on a standard scale have a constant linear (x) slope on a logarithmic scale. This chart shows an exponential growth in price ... on a logarithmic scaled price axis.
Experimenting with Bitcoin high time frame log charts, I began to notice some patterns. Please note: This is a work in progress and by no means financial advice. Highlighted in yellow are two box areas, the rest is built around them. The similarity appears striking, imo. Does this mean the chart will continue to produce and follow these patterns? Log charts are...
Hi crypto traders, Using the Anchored VWAP, we can clearly see that we are in a bullish macro trend but short term correction. Bulls are in control and we will not close on the daily lower then 2.7usd. Price targets for THETA are just mind-blowing. We could see even 200usd per THETA. But better exit, it will be once the price touches again the yellow log scale...
Looking at a very similar pattern from the last two cycles. This angle isn't as steep. But seems to line up well. I'll update this as we progress through the bull market.
BTC is showing exhaustion on the MACD and RSI at the Logscale 1.618 PCZ of a Bearish Butterfly and looks to be gearing up for further downside. The way I plan play this move is by buying the 3X Short Token for BTC as it looks to be breaking out bullishly on on the Daily RSI and the MACD seems to be ready to make some more Positive Momentum. The weekly for this 3X...
A rather drastic drop just occurred for BTC with potential (probable) drops to continue (after possible short-term retracement). The long-term linear trend just took a rather harsh hit as the price dipped below the support around 58K and subsequently plummeted to around 51.5K USD. However, this doesn't look like the bull market is done just yet. Whenever I see a...
The RSI looks exhausted as BTC continues to try making higher highs and the MACD looks ready to rollover. There is also confluence with the Logscale 1.618 and the Linear 3.618 at these levels and i would not be surprised if we get a corrective pullback to the 20k area. If 20k doesn't hold then i will change my corrective pullback bias to a capitulative crash...
Hello Crypto traders! Cryptocurrencies are in a massive rally and one of them is also BTGUSD (Bitcoin Gold), where we see room for more gains within a five-wave cycle, we just have to be aware of a potential pullback in wave 4, which can be quite big looking at the logarithmic scale chart. Well, what we want to say is that BTGUSD remains bullish while it's...
The weekly closed with a piercing line pattern off the neckline of a weekly double bottom and we are above the 55 week Simple moving Average. I expect this could take us to much higher prices and will be buying here and if it goes lower i will also be buying within the green zone with limited risk.
2WK Log scale idea for BTC on the BLX chart. Fib channels and trend based time fibs with fib retrace extensions set to log scale fibs. RSI showing an interesting inverted head and shoulders patters suggesting a possible break higher from this ascending channel.
Looks like we're about to retest the support level at 180$ (55 EMA). At the same time we're not far away from the temporary resistance at 240$. If we break through it and find new support we might have another big leg up. Also google trends shows me that the interest for "litecoin" is by far not even close to the ath from 2017. So all in all I'm bullish on this...
A logarithmic look at the evolution of BTC price since its very early days The following key takeaways: BTC tends to extend only about 1/5 of its prior impulse move measured in terms of % increase; BTC tends to react ≈38.20% on a logarithmic scale to form a correctional bear market; The sub $80k area is a pivotal area to look for supply inflows. This...
I have made a lot of comments about the long term bull case for bitcoin. Really that comes in the form of a number of different angles and analysis, which I might suggest a couple more ways of looking at things. This one goes on the assumption that the price follows historic price action, which it often doesnt. At these prices retail traders are put off, and...
This is log scale chart. The pitchfork shows a strong respect of the 1.5 deviation. We've seen a couple of flash crashes to the 2.0 deviation on other bigger coinbase alts like $LINK, so those kinds of moves are still on the table. Also if big daddy $BTC decides to run? Alt's will bleed / stay sideways for a while. I'm still very bullish on these Coinbase alts....
The bottom corresponds to the breaking point on the Wedge. IE if the wedge broke on one of the Red lines extending downwards it will hit that price point. A recovery will most likely not bounce directly off the curve unless it is done in a single candle from break to target. Hope i explained that well enough, Log charts are harder to calculate until the breakout/...