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Because I am a technical analysis ultra-nerd, I chart some of the instruments I trade by hand — just the weekly candles though. When I was catching up with the past few weeks, I again realized how much more accurate trendlines are on hand-made charts compared to software.
And it reminded me of the perspective I get from a hand drawn chart. Linear chart — price is scaled to be equal, so 5, 10, 15, 20, 25, 30, etc. You see an equally divided price chart. Provides a little different context and perspective than the linear chart.
Especially the slope and the angles. Trend lines are especially important here. Bitcoin, especially, shows the difference between the two chart scales. Bitcoin is actually a perfect example of an instrument that benefits the most from a logarithmic scaled chart.
We can see that the logarithmic scale is not only much easier to draw a trend line against for the entire price history on this chart, but it provides a very easy to identify support zone for the present trading conditions. Thanks for subscribing to the Coin Clarity Newsletter!
Please check your email for further instructions. Save my name, email, and website in this browser for the next time I comment. Logarithmic chart of Bitcoin. Jonathan Morgan. In this article: Bitcoin. In this article:. What is covered in this article:. Nasdaq Linear Price Scale Chart.
As per my last video analysis attached below , we know that Bitcoin is sitting around the 60k resistance zone and overall bearish from a medium-term perspective trading inside the red channel. If the bears manage to break below the gray neckline, Bitcoin has lately taken a pause on its monthly rally that followed the July bottom, and what better time to look at some highly accurate old models and work around them to produce projections. Hey, family! Quick update on Bitcoin.
Nothing much has changed since our last analysis on Monday as the price is still consolidating around a possible entry zone. The chart analysis pretty much says it all about why our bias is bullish on this pair. Multiple technical confluences are being lined up perfectly: the formation of Higher Highs and Higher Lows, an In recent times we have seen important determinations going on with Bitcoin as it increased with short-term bullish volatility in the structure to bounce off the USD level and now moved into an interesting constellation in which it is developing a pivotal formation as I In this market situation, I am looking at multiple indicators And I can see bullish momentum accumulating on the pair right now This setiment makes me bullish biased and I am considering a long!
Like and subscribe and comment my ideas if you enjoy them! If you have any questions fell free to ask, you can write it in comments below As we can see price is in the range zone here near resistances of trendlines that are main resistance zones now technically we can expect more correction here and only if 53K support break price can dump to 50K support zone but this range zone near the resistance zone is a good sign and soon we can expect breaking this resistance zone and pump to targes like In any case, a descending widening wedge should break to the upside, unless market conditions are extremely bearish.
With multiple fails to pass above 60k, Bitcoin is very heavy at this moment and a break of Will It Happen? Hello everyone, if you like the idea, do not forget to support with a like and follow. Best of luck!
It looks as though the MA50 is beginning to curl upwards headed toward the MA Crossing that then headed for the LTF golden cross as well would give more indication that we are headed for more bullish continuation. Firstly however, we need to keep a close eye on Please review the chart and analysis below carefully as there are many trendlines and indicators noted. CryptoPickk notes the following: 1 The Bitcoin price has been in a rising wedge pattern since the end of around the period Here we see a cup and handle in a cup and handle saw it here first :D ty ya all and have some nice gains!!!
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