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speculative fib channel suggests we could reach top by Octoberjust playing around with the fib channel here on the log chart until i found some consistency...i noticed that the blue .786 fib was the top of the 2013 false top and the 2017 true top. I also noticed that in 2013 after the false top it took 7 more monthly candles to reach the true top and wen it did it rose up 2 extra fib levels/colors before it hit that top in 2014. If we hypothetically are playing out a fractal of that 2013-2014 bull market, and we assume we will get 7 more monthly candles following our current false top until the real top...that would take us to october of this year....now, if we also did the same thing and pumped priceaction 2 extra fib levels that would have us hitting the teal .618 fib level and if we were to come anywhere close to that in the month of october then suddenly 280-300k (as shown here by the red bullseye) is a real possibility...this price range would fit perfectly with plan B's stock to flow model which has a price projection around 288k. I am by no means saying this is how things will unfold. I have not really used the fib channel tool very much so it may very well be that there is a much more accurate angle to this fib channel than the one I've come up with...but its fun to speculate sometimes and when it lined up at this angle I saw quite a bit of bullish confluence so I thought it would be fun to share so later I can hit play on this chart and see if it comes anywhere close to this. As always, none of this is financial advice. Thanks for reading.
BNC:BLX
by DrDovetail
Weekly xrpusd log chart has a massive cup and handle!If we can do measured moves for cup and handles on log charts the same way we do them on linear charts then this cup and handle has a breakout target of $42 which is absolutely massive. I need some confirmation that the moves can be measured the same way before I get too overly excited about this c&h i just found on the log chart. However I did back test the previous 3 bull flags on this log chart that immediately preceded this cup and handle and I was able to measure them the exact same way as I would on a linear chart so that gives me hope this $42 target is actually possible. I’m sure we will find out soon enough(within the next 3 months to a year)
BITSTAMP:XRPUSDLong
by DrDovetail
14
AMZN: Arithmetic and Logarithmic Charts ExplainedIn this post, I'll be shedding light on the difference between arithmetic and logarithmic scale charts, and how to best use both charts to your advantage. Arithmetic Chart - The chart on the left is a chart that uses the arithmetic scale - This is the chart most common to us all, and one that's easiest for traders and investors to comprehend - An arithmetic chart represents price on the y axis, using equidistant spacing between the prices - This is demonstrated on the arithmetic scale above; the distance between 1 and 2, is the same as the distance between 8 and 9 - Arithmetic charts demonstrate absolute value Logarithmic Chart - The log chart on the right side has a different approach to interpreting price movement - The y axis uses equidistant spacing between designated prices - This is demonstrated on the logarithmic scale above; the distance between 1 and 2, is the same as the distance between 2 to 4, 4 to 8, and so on. - The logarithmic chart demonstrates the percentage change in the underlying asset's price Case Study: Amazon (AMZN) - We can take a look at Amazon's arithmetic and logarithmic charts, dividing them by significant phases to better understand the differences - We can first see that the area marked by 'extreme volatility' on the log chart, is much more drastically demonstrated than that of the arithmetic chart - This is because price fluctuations in terms of percentages were drastic at the time, due to the Dot-com Bubble. - For more information on the Dot-com bubble and today's stock bubble, you can check out my other analysis below: - However, because in terms of the absolute value changes during the Dot-com bubble are minuscule compared to the price fluctuations today, the phase of extreme volatility is barely noticeable in the arithmetic chart - In the period of a 'steady uptrend', we can see a clear and steady uptrend in the logarithmic chart, indicating that the stock moved up at a consistent pace, percentage-wise - The arithmetic chart, while not drastic in the uptrend's degree, demonstrates parabolic momentum building up - We then have the 'exponential growth' phase. Here, we see a move from $400 to $3,400 on the arithmetic scale. - However, the logarithmic chart merely demonstrates a steady uptrend without much volatility. - This is because while the absolute value of the stock has risen significantly over time, the percentage change in the rise was consistent. Conclusion While the arithmetic chart is more familiar for the average trader/investor, logarithmic charts help us clearly view long term data, especially when price points show immense volatility during the short term. As such, log charts can be effectively used in for technical analysis of cryptocurrencies, as well as volatile tech stocks with long price history. The understanding of the log chart is an effective tool, but it must be used with caution, since most people intuitively interpret a chart as an arithmetic one. If you like this analysis, please make sure to like the post, and follow for more quality content! I would also appreciate it if you could leave a comment below with some original insight.
NASDAQ:AMZNEducation
by Michael_Wang_Official
7