It seems many traders prefer log vs linear when it comes to TA. Well, my last chart was linear and showed a dismal picture for bitcoin. However when taking the same analysis/concept and applying it to bitcoin in a log format we get a very different view.
This method shows that, barring another drop to $6,500 or so, we are holding the trendline established back in 2015 and should be breaking out of this pennant (which bitcoin loves) within the next few months.
Please look at both charts, the log and the linear, and let me know your thoughts as to why you feel one is better than the other.
Note, these are my first two charts and appreciate some feedback. We all start somewhere :)
This method shows that, barring another drop to $6,500 or so, we are holding the trendline established back in 2015 and should be breaking out of this pennant (which bitcoin loves) within the next few months.
Please look at both charts, the log and the linear, and let me know your thoughts as to why you feel one is better than the other.
Note, these are my first two charts and appreciate some feedback. We all start somewhere :)