BTC looks so ugly on the LOG SCALE.NO FUD here just facts !
Let's get right into this.
Looking at the Linear scale ( )
BTC looks as if it has broke the down trend coming from ATH. but then the momentum is very slow,this is not how the market should response to a MAJOR break out like this. usually when such a break out like this happens, we see massive increase in volume as well as PRICE. but this just did not happen , why so ??
looking at the LOG scale
here >
( which most of the time give a BETTER observation and understanding ) we see that BTC is approaching the MAIN DOWN TREND and have not broke above as in the Linear scale.
therefore he are 2 scenarios which may happen from right NOW to 2-4 days AT MOST.
1- BTC will touch or nearly touch the trend line and bounce back down in a very ugly way !
2- BTC breakes up , close above and then take off to 11K in no TIME.
what do i think ?? I do not want to guess the market, am moving my long potions SL which most entered at down trend 64**$. just a few hundreds from current price. and i am going to wait for the action to happen , i prefer to jump in a bit late than TOO EARLY.
btw this apply to alt coins too. once BTC starts moving everything will follow and vice versa.
do not say i did'nt warn ya :D
Good luck
