BTC: SHORT on Logarithmic Charts, LONG on Arithmetic Charts!
In the logarithmic chart, it broke this year's upward long-term trend. Many are expecting that it's finally time to short Bitcoin, predicting it could drop back to $40,000 or even lower, with nothing to halt the fall.
HOWEVER, if you look at the same period on an arithmetic chart: it has just reached a trend line, and there was a break in the H4 RSI trend a few hours ago. I think this presents a low-risk entry point; if it doesn't reverse here and continues to break the trend, then it's time to exit. However, if it stays within the trend, it could easily double from here this year.
HOWEVER, if you look at the same period on an arithmetic chart: it has just reached a trend line, and there was a break in the H4 RSI trend a few hours ago. I think this presents a low-risk entry point; if it doesn't reverse here and continues to break the trend, then it's time to exit. However, if it stays within the trend, it could easily double from here this year.
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