BTC BASICS everyone should know: The Log Scale.

BITSTAMP:BTCUSD   Bitcoin / Dollar
3995 3
Again, everyone should be aware of the essential trend lines for BTC . I've published the shorter term, more aggressive TL for BTC in another post.

Three things to take away from this post:

-btc is best viewed on a logarithmic scale. When people look at the linear chart of btc and see a vertical line up...yes, that is scary because it suggests extreme downside. It makes much more sense looking at it this way.

-we can deviate VERY far north of the trendline . That is FOMO. As you can see pre Mt Gox. Don't think because we are so far above the trend line you should SHORT btc . Defintely, definitely not.

-we can conceivably fall down below $2k btc again and still be in an overall uptrend. That would still be a very bad situation and i prefer it never happen. But actual breaking of this multi year trendline would be very, very bad.
Stupid question, how do you change to the Log Chart on Tradingview?
+1 Antworten
@andiha, Just figured it out myself, in the lower left click 'log', right next to 'auto'
I should note that novices really shouldn't be shorting...

there is a much easier way to make money on the way down. If a major trend line breaks, sell your btc. sit in cash or USDT. wait until RSI is significantly oversold, buy the dip, sell the 3-7% bounce. Rinse and repeat while waiting for higher lows and higher highs.
+1 Antworten
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden