deonjoubert

deonjoubert

BTC bounced off the support line on the logarithmic scale

deonjoubert

It makes a lot more sense to look at the chart in a logarithmic scale, since it's volatility has become amplified as the value increased. Looking at this one, we can see that the uptrend has not really broken with this latest correction. If it holds, it should be back up to $20k somewhere between March and July.

deonjoubert

Is this an opportunity to short EURCAD? Set your stop loss high, then even if the trend goes bullish, there is a reasonable probability that the price will still gravitate towards the lower bull trend line for a no loss exit a delayed profit.

deonjoubert

If the BTC price breaks through the tend line, it would indicate a clear change from the steep decline that we have been seeing. There could be some sideways movement as the price consolidates before it climbs into the mid $4000 range.